The $113.9 million deal for the remaining 45.5 per cent stake of Macquarie will see highly paid shock jock presenters — including Alan Jones, Ray Hadley, Steve Price and Neil Mitchell — transfer to Nine's books.
The acquisition, to be funded from Nine's cash reserves and existing debt facilities, will see flagship talk stations in the major capital cities — 2GB, 3AW, 4BC, 6PR — and Macquarie Sports Radio (formerly 2UE) fully owned and controlled by Nine.
Sydney businessman John Singleton, who owns 32.4 per cent of Macquarie, agreed at a meeting of the Macquarie Media board yesterday to sell his stake for $1.46 a share. Investment banker Mark Carnegie would also sell his 3.6 per cent stake.
Macquarie's directors have also recommended the deal.
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