John Singleton has confirmed to the Australian Stock Exchange that he will sell his shares in Macquarie Media Limited to Nine Entertainment.

Singleton holds 55.3 million shares, which will now give Nine voting power over 87% of the company.

Alan Jones has also confirmed that he will sell his 1% stake in the company to Nine.

The other major shareholder, Mark Carnegie, has not yet confirmed whether he will accept Nine's offer.

Macquarie Media’s major independent shareholders, John Singleton and Mark Carnegie are reportedly ready to accept the bid from Nine Entertainment to acquire the remaining shares in the radio network.
 
According to the SMH, the pair are just waiting for an independent report from PwC to see if the offer is recommended.
 

The Sydney Morning Herald is reporting that one of Nine Entertainment’s top shareholders is cautioning the network about acquiring John Singleton’s share of Macquarie Media.

John Singleton has told The Australian that selling his shares in Macquarie Media is inevitable.
 
According to The Australian, any offer from the Nine Network will be delayed until and if Alan Jones signs a new contract to take him past June 30.
 

The merger of Nine and Fairfax is due to complete this Friday.

Along with the merger of both companies, Nine will also end up owning Fairfax Media's 54% share of Macquarie Media.

But would Nine like to own it all? Perhaps so.

Nine has responded to media speculation today with a short media statement saying the company has "had discussions" about the remaining 46% of shares in Macquarie Media, most of which are owned by John Singleton.

The pair burst in during Ray's 2GB Morning Show introduction.

With a number of would be buyers propositioning the ailing Fairfax empire, it was the obvious call from John Singleton and Mark Carnegie to make a play for their radio assets.

Former regional radio network owner Brad Smart believes Macquarie Media should "play by the rules" or get out of radio.

And how 2WS tried to fool its competitors

Business review Weekly has just released its rich list for 2016.

Among the top media names on the 2016 BRW Rich 200 are:

Kerry Stokes, who comes in 25th, with individual wealth of $1.71 billion. As well as beign the biggest shareholder in Channel 7, Stokes' company, Seven West Media, also owns Spirit Radio Network in West Australia.

Win TV's Bruce Gordon is 54th in the rich list, with a fortune of $990 million. As well as his tv interests, Gordon owns i98 in Wollongong and C91.3 Campbelltown.