The Australian is reporting (subscription required) that Mark Carnegie has agreed to sell his stake in Macquarie Media to Nine.

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.
 

Veteran investment banker Mark Carnegie has spoken with ABC's Dominique Schwartz about the hype surrounding an expected wave of consolidation following the government's media reforms, and Carnegie's recent bid along with advertising guru John Singleton for a full takeover of Macquarie Media.

In June, the pair teamed up to buy Fairfax Media's 54% stake in the belief it was looking to offload Macquarie, however Fairfax said it was not seeking offers. 

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.

John Singleton and Mark Carnegie have made a formal bid to buy out Fairfax Media's 54% stake in Macquarie Media.

The move comes as Fairfax shareholders consider offers for the rest of the company from two foreign investors.

Media investor and significant shareholder in the Macquarie Radio Network Mark Carnegie (pictured) was interviewed on The Perrett Report on Sky Business last night to provide some insight into the current state of the long running merger discussions between his organisation and Fairfax Radio.