Updated: Radio shake-up as bid launched for SCA
ARN and private equity firm targets owner of Brisbane's Triple M and B105.
Brisbane’s, and indeed the entire Australian, radio market is set for a shake-up with news that radio network ARN, with the assistance of a private-equity firm, is making a bid for rival Southern Cross Austereo.
Among other assets, SCA owns Brisbane’s B105 and Triple M, plus the Triple M and HIT network stations across the major capital cities, and the LISTNR app.
Radio powerhouse ARN, which owns the KIIS and Gold networks plus a vast regional network, is making the bid with support of a firm called Anchorage Capital.
Under its proposal, the acquisition will create two competing identities, one of them a new national radio network of 10 metropolitan stations, “anchored by the KIIS and Triple M brands” and with an expanded regional presence.
Current media law prohibits any owner from having more than two radio stations in the same market. This led most recently to the sale of 4KQ (now SEN) when ARN bought Grant Broadcasting.
Whatever happens, many stations will fall under new management if the deal goes through. As well as the two-network shake-up proposed by ARN and Anchorage Capital, several side deals are likely if the proposal goes through.
Early rumours had it that if any SCA stations in Queensland had to be sold, they would be B105 and Ipswich station River 949, whose signal overlaps in Brisbane.
However, the proposal suggests that B105 would be part of a network comprising SCA’s existing HIT stations and ARN’s Gold stations. Presumably this would be run by Anchorage.
This development may also add weight to reports that the Kyle and Jackie O breakfast show will be heard in Brisbane next year.
It’s also been suggested by @sydneycitytv on X that the changes could create an opportunity for the Nova network to find a home on the Brisbane FM dial for its Smooth brand, currently heard only on DAB and online.
There’ll be more to come on this, either here or on a new post.
P.S. Thanks to Kuttsy and Anon for alerting me to this ASX statement.
Sources: AFR, Mediaweek, AdNews
If SCA takes over, then it will be wall to wall of the same ol', same ol, songs e.g.: Billy Joel, Elton John, Nickelback, Tom Petty and Khe San right up the Qld coast. Diversity is not their strong suit ;)