Macquarie Says Australian Stations Not For Sale
October 24, 2006 at 5:50 AM (PT)
With rumors that MACQUARIE MEDIA GROUP will sell its regional Australian radio stations hot and heavy after media-ownership rules were recently loosened by Parliament, the company is denying that it will sell MACQUARIE REGIONAL RADIOWORKS.
MACQUARIE issued the statement that the radio division is not for sale and that it has not been approached to sell the properties after the AUSTRAALIAN STOCK EXCHANGE requested that it make a statement responding to press reports of a possible sale. The reports said that the 85 stations would be sold for A$600 million.