Nine sells its sprawling radio empire including 2GB and 3AW – and a billionaire pub baron is the surprising secret buyer
Nine Entertainment has sold its radio assets including 2GB and 3AW to a consortium led by billionaire pub baron Arthur Laundy, in a surprise deal.
In a statement to the ASX on Friday morning, the sale was confirmed.
‘Nine has today finalised an agreement to sell Nine’s broadcast radio assets – 2GB, 3AW, 4BC, 6PR, 2UE, Magic1278 and 4BH – to the Laundy Family Office on a cash and debt free enterprise value of $56m. The sale is expected to be compelted prior to 30 June 2026,’ the statement said.
Nine chief executive Matt Stanton revealed back in September that the network had received a ‘number of unsolicited inquiries about our radio business’.
Among the parties mentioned to be eyeing a deal were Australian Digital Holdings, John Singleton, Sports Entertainment Network and The Fordham Company, run by Nick Fordham who is the brother of 2GB heavyweight Ben Fordham.
But Laundy, who went under the radar as one of the interested parties, emerged as the final buyer.
Laundy is one of the country’s richest men with a fortune estimated to be worth $1.75billion, made through his network of pubs and hospitality venues grown over decades from his father’s first pub, the Sackville Hotel in Rozelle.
His son, Stu Laundy, runs a large part of the business and found fame after his appearance on season three of The Bachelorette.
2GB Breakfast host Ben Fordham
Pub tycoon Arthur Laundy (left) and Stu Laundy on the Bachelorette with Sophie Monk (right)
In 2019, Nine Entertainment paid $113.9 million to acquire the remaining 45.5 per cent of the Macquarie Media radio network after gaining a controlling stake through its takeover of Fairfax Media.
Five years later, those same radio assets have been sold for $56 million, a major blow for Nine Entertainment and a sign of radio’s declining influence in the digital media era.
