Nine Entertainment's $50M Radio Sale Stalls as Buyers Retreat
Nine's $50M AM radio sale collapses as Singleton withdraws and SEN faces regulatory blocks, signaling valuation crisis for legacy media across Asia-Pacific.
Nine Entertainment's effort to sell its AM radio division for $50 million has stalled as potential buyers withdraw or face regulatory hurdles, reflecting broader challenges in legacy media valuations across the Asia-Pacific region. The prolonged sale process, which intensified in late 2025, has seen multiple interested parties emerge and retreat, with no deal finalized as of January 2026.
Former Owner Cools on Repurchase Deal
John Singleton, who previously owned the stations, was initially considered the leading candidate to reacquire Nine's AM talk stations including 2GB, 3AW, 4BH, and 6PR. However, Singleton and his team have reportedly "cooled on the deal," according to industry sources. Russell Tate, Singleton's longtime business partner, offered only a cryptic response when asked about negotiations: "Nothing to say re Nine [Radio] at the moment."
Some market observers speculate the withdrawal may be a pricing strategy rather than genuine disinterest. Despite the uncertainty, one executive close to negotiations believes "a sale is more likely than not and it will happen soon."
Sports Entertainment Network (SEN) emerged as another potential buyer after CEO Craig Hutchison stated the company "would like to be part of that conversation." SEN recently gained financial flexibility after selling the Perth Wildcats for $40 million and maintains backing from Commonwealth Bank. However, acquiring Nine Radio would breach Melbourne's two-station ownership limit, where SEN already owns 1116 and RSN 927 AM.
Regional Broadcaster Shows Limited Interest
Ace Radio, which operates 18 regional Victorian stations, confirmed interest in purchasing only three of Nine's AM metro licenses: Magic Melbourne, 2UE Sydney, and 4BH Brisbane. These stations are already leased to Ace under a 10-year agreement. CEO Mark Taylor emphasized the company's focus: "We don't see ourselves as talk radio operators," indicating Ace's preference for automated music content over the talk format that defines 2GB and 3AW.
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Other potential buyers mentioned include ADH, a conservative media outfit, and GTN, the parent company of Australian Traffic Network. However, ADH's credibility has been questioned after a $40 million-plus bid reportedly lacked proper due diligence, mirroring its failed 2024 attempt to purchase regional TV licenses.
Broader Market Challenges Emerge
The difficulty in selling Nine's radio assets mirrors challenges across Asia-Pacific markets, where traditional radio advertising revenue grows at just 3.0% annually between 2022 and 2028. While markets like China, India, and Japan drive regional growth through political advertising and mobile penetration, Australian broadcasters face what researchers describe as a "valuation crisis."
Recent AM radio transactions suggest ongoing market appetite despite pricing pressures. SEN's acquisitions of 2CH for $11 million, 4KQ for $12 million, and RSN for $3.25 million demonstrate that buyers exist for properly priced assets. The ratings strength of 3AW and 2GB should theoretically facilitate a sale, particularly if Nine shows price flexibility below its current $50 million asking price.
The stalled sale reflects broader structural shifts as marketing communications leaders across the region reassess traditional broadcast investments against faster-growing digital channels. For Nine Entertainment, finding the right buyer at an acceptable price remains an open question as 2026 progresses.
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