Nine Responds To Speculation Of Macquarie Media Acquisition
Nine Entertainment has responded to speculation that it is set to acquire the outstanding shares in Macquarie Media that aren’t already owned by Fairfax.
It comes after a report published on The Australian late last night claimed talks were already underway between Nine and the radio network’s second-largest shareholder, John Singleton, to buy the company’s stake that is not owned by Fairfax.
Singleton owns 32 per cent of the radio network’s shares, while Fairfax – which will officially join forces with Nine on Friday – owns 54.5 per cent. According to The Australian’s report, Nine is offering Singleton $2 per share.
John Singleton
In a statement to shareholders this morning, a Nine spokesperson said: “Whilst the Nine-Fairfax merger is due to be implemented on Friday, Nine confirms that it has had some preliminary discussions regarding the outstanding shares in MRN.
“Nine will make a further announcement should these discussions progress to a transaction.”
Las month, Singleton told The Daily Telegraph he had “no interest in just being a small investor in a bigger media operation” while addressing rumours that he had already sold his stake in Macquarie to Nine.
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