Macquarie: We'll Shut Some FMs If New Australian Local Rules Are Enacted
October 13, 2006 at 6:25 AM (PT)
AUSTRALIA's proposed law to require regional radio stations to produce and air more local programming has prompted MACQUARIE REGIONAL RADIO to complain that the rules would force it to close up shop at several of its WESTERN AUSTRALIA stations because the operations would lose money if they had to spend on local programming.
The company says that the laws, which were approved THURSDAY by the Senate and would require the stations to air 4 1/2 hours of local programming and 12 1/2 minutes of local news a day, would put its stations in BRIDGETOWN, ESPERANCE, KATANNING, MERREDIN, NARROGIN, and NORTHAM out of business and would make its ALBANY station marginal.
Meanwhile, MACQUARIE is also looking to sell the FM license it won in PLYMOUTH, ENGLAND, according to the GUARDIAN, which says that the company, disappointed that it has only won a single radio license in the UK thus far, is having talks with third parties over the possible sale of DIAMOND FM, which has yet to launch.