Macquarie Radio reports fall in revenue | radioinfo

Macquarie Radio reports fall in revenue

Wednesday 17 February, 2016

Following last year’s merger of Fairfax Radio with Macquarie Radio, Macquarie Media has posted a 9% fall in half year revenue to $66.83 million.

This is the first full six month period of the combined groups since the merger came into effect on April 1st 2015.

Macquarie Media Executive Chairman Russell Tate expressed his disappointment that the figures were lower than anticipated, but said “I am confident of achieving our full year earnings (EBITDA) guidance in the range of $20 - $25 million. Our sales force has undergone massive change in both personnel and approach to the market and we are now starting to see the benefit of those changes in year-on-year revenue increases. We continue to fine tune our operating structures and personnel and we will realise further significant savings in operating costs."

Macquarie Media now owns news talk radio stations 2GB, 2UE, 3AW, 4BC and 6PR.

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