Although he wouldn’t tell us exactly what’s happening with the sale to MRN or anyone else, that would be Fairfax CEO Greg Hywood’s job, radio boss Graham Mott did give us the most definitive hint yet saying, “It may be that Fairfax decides to sit on the metros for some time.”

He reminded the audience at Friday’s CRA Conference that the main reason that the network went to market in the first place was because of buyer interest. It was always clear that Fairfax was not interested in a fire sale.

It was “fair to say,” said Mr Mott, that at present it was a “buyers market” suggesting that it was prudent for Fairfax to hang on to its radio assets until there is a marked improvement in economic indicators.

He also added that it was “probably unlikely” that the metro network, particularly 2UE and 3AW would be split up.

Speaking about last week’s sale of 5CC, 5AU, 5CS, 5RM and Magic FM South Australia and 4BU, Hitz FM and Kix FM in Queensland to Grant Broadcasters, Mr Mott said, “We needed to find more regional radio stations to buy or we needed to get out.

“I’m pleased that in the end they went somebody who’s committed to being in the industry for a long time,” said Mr Mott.