Prime Media sells radio assets to Grant to pay off debts

Prime Media sells radio assets to Grant to pay off debts

The Prime Media Group has offloaded its ten radio stations to Grant Broadcasters for around $25m as it looks to pay down debt.

Under the terms of the deal Grant will pick up six FM and four AM licenses from the group operating in regional Queensland, covering the area between the Sunshine Coast to Cairns.

In recent times the group’s radio assets have been struggling, with a $15m write-down announced in its trading results for the first six months of the last financial year, as profits suffer.

Grant has a substantial footprint in regional radio, and already owns a number of radio stations around the area it is acquiring the Prime assets.

Prime is releasing its full-year results on August 28, two days before the deal is expected to be completed.




Please login with linkedin to comment

Latest News

The Mars Agency Announces Latest Findings Of Retail Media Report Card
  • Advertising

The Mars Agency Announces Latest Findings Of Retail Media Report Card

The Mars Agency has developed a scorecard that assesses the capabilities of leading platforms across key criteria required to optimally plan, execute, and measure effective retail media programs. The scorecard aims To help brands efficiently evaluate their spending options across retail media networks in Australia (and New Zealand). With spending on retail media advertising in […]

TV Ratings (27/03/2024): Jungle Members At War Over Concealed Lipstick
  • TV Ratings

TV Ratings (27/03/2024): Jungle Members At War Over Concealed Lipstick

A heated argument between two jungle members did the numbers for Ten last night, with I’m A Celeb obtaining a total national reach of 1,282,000. Fans were delighted as Candice Warner and influencer Skye Wheatley got into it over a stick of lipstick, leading Warner to dub the Instagram star “selfish.” Wheatley, best known for […]