Nine sells radio stations, including 6PR, bets $850 million on outdoor advertising business QMS Media

Media company Nine Entertainment has agreed to buy outdoor advertising business QMS Media for $850 million from Quadrant Private Equity and confirmed the sale of its radio stations - including Perth’s 6PR - to the billionaire Laundy family. 6PR, along with the 2GB, 3AW, 4BC, 2UE, Magic1278 and 4BH radio stations, will be sold for $56m, with the sale expected to complete on June 30 subject to Australian Competition and Consumer Commission approval. Nine’s chief executive Matt Stanton said the deals align with the group’s strategy to grow digital revenues, after it sold its 60 per cent stake in property classifieds business Domain for around $1.6 billion in 2025. “The acquisition of the high-growth digital outdoor media company, QMS, further diversifies Nine’s revenue streams and adds scale to our advertiser and agency relationships,” said Mr Stanton. “The QMS network will provide Nine with a branded platform to support key national news and sporting moments and serve as a public utility for governments at all levels in times of emergency or community need.” Nine said it will be able to claim tax losses of $178m as a result of the radio business sales and offset these losses against its $254m capital gains tax bill from the sale of Domain. As a result of the tax benefits, it said its net investments will be around $601m for a QMS business forecast to generate EBITDA (operating income) of $105m in 2026. Nine also warned investors that its dividends in financial years 2026 and 2027 are now expected to be unfranked as a result of the tax losses being recognised through the deals. The company will hand down its results for the six months ending December 31 on February 24. More to come.