DMG Radio Australia has acquired the new Brisbane FM radio licence in a joint venture with the Australian Radio Network.
Brisbane FM Radio Pty Ltd is a joint venture between DMG Radio Australia and the Australian Radio Network. DMG is 25% owned by GWR Group plc and 75% owned by Daily Mail and General Trust plc. The licence was acquired for A$67 million (£25 million).
The DMG Radio Australia portfolio also includes the recently launched Nova 969 a new FM licence in Sydney acquired last year, the FM licence in Melbourne due to launch later this year, an AM station in Adelaide and 57 regional licences across Australia.
Ralph Bernard, Chief Executive, commented: ‘This success is another step in the process of building our network of metropolitan stations in Australia.’
