APN News and Media Limited have bought out Clear Channel’s interests in both the Australian Radio Network and New Zealand’s The Radio Network for $246.5m, meaning they now own both networks outright.
This deal significantly bolsters APN’s market share in these regions, with Australian Radio Network currently owning – or part-owning – twelve radio stations in Australia, including flagship stations KIIS 1065 and MixFM. TRN operate three of the top five national radio networks in New Zealand: NewsTalk ZB, Classic Hits and Coast.
In addition, APN have struck a ten-year deal to operate iHeartRadio digital radio, which streams over a thousand Clear Channel stations, in both territories.
What this change of ownership will mean for the overseas careers of recent high-profile ARN acquisitions Kyle and Jackie O remains to be seen; various reports around the time of their signing suggested that Clear Channel’s far reach and syndication possibilities were key in the duo’s decision to jump ship.
.jpg%3Fv%3D1785482020048&w=3840&q=75)
