ARN Finalises Sale Of Brisbane Radio Station 4KQ

ARN Finalises Sale Of Brisbane Radio Station 4KQ
SHARE
THIS



Today, ARN’s parent company HT&E Limited has announced it has completed the sale of its “4KQ” Brisbane radio station and licence to a subsidiary of Sports Entertainment Group Limited (ASX: SEG).

Following ARN’s acquisition of the Grant Broadcasters business earlier this year, which saw the business take over radio and digital operations across 46 stations, HT&E was required to divest 4KQ to ensure compliance with Australia’s media ownership laws, as required by the Australian Communications and Media Authority.

4KQ broadcasted for the final time at midnight Thursday 30 June, bidding farewell by playing “American Pie” by Don McLean, with Brisbane’s longest continual running breakfast show Laurel, Gary and Mark finishing up last Friday. Together, the breakfast trio have entertained listeners on air for 16 years, with Laurel recently celebrating her 30th anniversary, making her the longest-serving female radio announced on the same program.

Gary found his way to 4KQ in the mid-90s producing Breakfast for over eight years before landing an on-air role in that very same slot. And Mark, one of 4KQ’s most loved personalities, has anchored the Breakfast show now for the past 16 years.

ARN’s CEO, Ciaran Davis (pictured) said: “4KQ is a station rich in history and a hugely important part of the ARN story, achieving #1 Commercial AM countless times. Many people at ARN have such a personal connection to 4KQ and it will be a truly missed part of our stable. We wish Sports Entertainment Group Limited all the best for their future endeavours with the station.”

ARN’s chief content officer, Duncan Campbell added: “I can’t believe the day is finally here, that we officially have to say goodbye to 4KQ. It truly is the end of an era. I would like to thank the entire team at 4KQ, who have been such a huge part of the success of the station with their passion and dedication.”

The sale of 4KQ to Sports Entertainment Group Limited was previously announced to the ASX on 5 May 2022, with the company behind Melbourne sports radio institution SEN set to change the popular classic music station to a sports format over the coming weeks.

The contract for the sale of the 4KQ assets was at a headline price of $12m payable in cash, reflecting a transaction multiple of ~11.9x normalised EBIT.

Please login with linkedin to comment

4KQ ARN

Latest News

TBWA\Melbourne, Thinkerbell & More Announced As Finalists For The Rigg Design Prize 2022
  • Media

TBWA\Melbourne, Thinkerbell & More Announced As Finalists For The Rigg Design Prize 2022

The first major exhibition of advertising and communication design in the NGV’s history, The Rigg Design Prize 2022 highlights the creativity underpinning the work of eight leading Australian-based agencies. For the exhibition, each agency will develop a suite of campaign assets – including billboards, street posters and moving image – to celebrate how creativity can […]

Queen Charles Launches In Sydney, Aiming To Shake Up The Consultancy Market
  • Marketing

Queen Charles Launches In Sydney, Aiming To Shake Up The Consultancy Market

After 11 months of quietly building up their new business Queen Charles, Alex Carr (pictured, left) and Jon Kelly (pictured, right) have finally found enough time to launch their brand and experience consultancy to the wider market. Based in Sydney, Queen Charles aims to help businesses of all shapes and sizes consistently stand out and […]

Michael Bass Named New Chief Trading Officer For Dentsu APAC
  • Media

Michael Bass Named New Chief Trading Officer For Dentsu APAC

Dentsu International has announced the appointment of Michael Bass (pictured) as chief trading officer, media, Dentsu Asia Pacific. With over 20 years’ experience, Bass’ career has included a range of senior investment and trading roles across the media sector. Bass spent seven years at IPG Mediabrands as trading director of Initiative and subsequently moved on […]

Icon Agency Rockets Into PRovoke APAC Fast Movers Rankings Top Five
  • Marketing

Icon Agency Rockets Into PRovoke APAC Fast Movers Rankings Top Five

Integrated communications firm Icon Agency has been ranked the fourth fastest growing agency in the Asia-Pacific, Middle East and Africa, according to the 2022 PRovoke PR Agency ‘Fast Movers’ rankings. Icon’s fee income for calendar 2021 grew 84.3 per cent, making it the fastest-growing and largest independent agency in Australia. The Melbourne-based indy was ranked […]

Tiger Brokers Offers Mullet Wigs And Free Tickets In Support Of Melbourne Storm
  • Campaigns

Tiger Brokers Offers Mullet Wigs And Free Tickets In Support Of Melbourne Storm

Tiger Brokers, an online broker for millennials and Gen Z, is offering fans the chance to win sideline seats to Melbourne Storm’s Round 21 clash against the Titans at AAMI Park (Friday 5 August 2022). The campaign has reached its peak, and now every Australian can also have the chance to win a Melbourne Storm […]