DMG Radio Australia, the country’s largest radio network, has announced the acquisition of Brisbane AM radio station 4BH from the Australian Radio Network for an undisclosed sum not exceeding A$5 million. DMG, 75% owned by DMGT and 25% by GWR Group, now owns 62 stations across Australia.
DMG Radio Australia’s regional stations continue to suffer in difficult trading conditions and last year’s results were also affected by the introduction of a new sales tax in 2000. However, Nova 969, a new Sydney FM station, was successfully launched in April 2001 and has performed well beyond expectations. New stations in Melbourne and Brisbane have since been launched by the group.
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