The Super Radio Network (SRN), one of Australia’s largest private radio groups is now up for sale, with owners George Caralis and Despina Priala seeking a buyer for the network and its 40 stations across New South Wales and Queensland, including flagship Sydney talkback station 2SM.
The sale, being handled by KPMG’s Dan Teper, is expected to attract bids north of $100 million.
The price tag includes the stations themselves, the real estate that houses many of them, and the localised expertise the network has built over decades.
The move marks the latest in a string of major shifts in the Australian radio industry. Within the past year, Nine Entertainment sold its radio assets, and Southern Cross Austereo (SCA) completed its acquisition of Seven West Media (SWM).
The network has been family-owned since its founding by Bill Caralis in 1982, beginning with the purchase of 2RG in Griffith. Following Bill and his wife Pam’s deaths in July 2024 – within three days of each other after 60 years of marriage -their children George and Despina took over as joint owners and managing directors.
Known for their hands-on management style, Bill and Pam Caralis were careful investors who owned nearly all the buildings that housed their stations, a rarity in Australian radio. The pair were also committed to staff welfare, famously keeping every employee through the COVID-19 pandemic without retrenchments.
When George, a longtime salesman, and Despina, a lawyer, assumed leadership, Sydney radio stalwarts John Laws and Richard King were still anchoring breakfast and morning programs. Under the siblings’ management, SRN maintained a reputation for strong local engagement across its NSW and Queensland stations.
The network has also experienced leadership changes in recent months. On 23 March, newly appointed CEO Rhys Holleran resigned after less than a year in the role. Holleran and a small group of colleagues separately own Queensland stations he purchased from Glenn Wheatley’s family in 2022.
The decision to sell SRN comes amid industry pressures and changing market dynamics, although details behind the Caralis siblings’ choice have not been publicly disclosed. B&T has reached out to the pair for comment.
With a sale now underway, SRN joins other major Australian radio networks in an evolving landscape defined by consolidation, changing listener habits, and investment from private buyers. For potential suitors, the network offers not only a large audience footprint but also a portfolio of highly localised stations and significant property assets – an increasingly rare combination in a sector where many networks lease their studios and rely heavily on syndicated programming.
For the Caralis family, who have built SRN over four decades, this represents the first opportunity to transfer ownership in nearly 40 years. The outcome will mark a pivotal moment for both the network and the broader Australian radio market.
B&T has also reached out to KPMG and SRN for comment.
