Nine is selling NBN as an affiliate to the WIN Network for $15m.
Nine has announced it is selling NBN Newcastle to the WIN Network for $15m as part of a wider media deal.
The deal signals the sale of its radio arm 3AW, 2GB, 4BC, 6PR 2UE, Magic1278 and 4BH to billionaire hotelier Arthur Laundy for $56m and the purchase of outdoor media group QMS for $850m.
In 2007 NBN was sold by SP Telemedia to PBL Media for $250m, maintaining it as an affiliate until 2016, when it was folded into the Nine Network. Now it reverts back to an affiliate owned and operated by Nine’s regional partner, WIN Network.
Completion of the NBN transaction is subject to Nine shareholder approval and other customary conditions, including ACCC approval. The deal is expected to be completed before 30 June 2026.
NBN Newcastle was established in 1962 and was New South Wales’ first regional station, later producing Swallows Juniors, Saturday Date, Jackpot Quiz, Travlin’ Out West, Star Quest, Beating Around the Bush, Ask The Leyland Brothers, Poppa Ryan Breakfast Club, Romper Room and Big Dog and Friends to name a few.
In 2021 NBN vacated its home of 59 years in Mosbri Crescent to a new site at Honeysuckle Drive.
Nine CEO Matt Stanton says, “Today’s announcements mark a critical milestone in our Nine2028 transformation. These transactions will create a more efficient, higher-growth, and digitally powered Nine Group for our consumers, advertisers, shareholders and people.
“This positions Nine well for the future, enabling the group to withstand industry disruption and deliver long-term sustainable value to our shareholders.”
“Laundy is expected to remain a long-term partner of Nine, with plans to utilise Nine News journalists on radio, showcase Stan Sport through Laundy venues, provide promotion and advertising sales collaboration, as well as increased advertising spend by Laundy on Nine properties,” Nine’s release to ASX reads.
Amended.