Macquarie Regional Radioworks sells stations to Prime TV

Prime Television has announced the acquisition of Macquarie Regional RadioWorks’ six Queensland stations that have been for sale since the purchase of DMG Regional stations and RG Capital stations by Macquarie Bank.

Under the present ‘two stations to a market’ rule MRR Works was required to divest itself of those stations, plus 2AY, which was today bought by Ace Radio (see other story).

The licences are 4CA FM in Cairns, Sea and Mix FM Townsville, 4RO Rockhampton, 4CC Gladstone and 4MK Mackay.

Prime Television Chairman Paul Ramsay believes the acquisition is “a very good fit” for the company’s long term strategy of developing its regional media businesses, positioning the company for “further growth opportunities.

CEO Warwick Syphers says:

“These are high quality businesses of long standing in high growth markets. The operating models of both regional television and radio require a strong focus on community involvement and operating efficiencies, which we believe are core competencies of Prime.”


The purchase price was not disclosed, but it is said to be “in line with recent comparable transactions.” The company expects to be “earnings accretive from the first year.”