Nine has this morning locked in one of its most significant portfolio reshuffles in years, confirming a long expected radio exit, a surprise regional television move and a major bet on digital outdoor advertising.
In an announcement to the ASX this morning, Nine detailed a sweeping repositioning of its asset portfolio, confirming the expected sale of its broadcast radio division, the conversion of regional broadcaster NBN Television into an affiliate owned and operated by long time partner WIN Network, and the acquisition of digital outdoor advertising company QMS Media.
The radio divestment brings to an end Nine’s ownership of major talkback stations including 2GB, 3AW, 4BC and 6PR, assets largely assembled through the Fairfax Media merger in 2018. The move had been widely anticipated after Nine confirmed last year it had received multiple unsolicited approaches for the radio business.
The stations will be acquired by the Laundy Family Office, after TV Blackbox reported yesterday that Arthur Laundy had emerged as the likely buyer, the private investment vehicle of the veteran publican and hotelier, at an enterprise value of $56 million. The transaction is expected to deliver a specific item gain of around $10 million in Nine’s FY26 results.
Nine said the sale will be accompanied by an ongoing strategic partnership with the Laundy Family Office, including collaboration across news content, advertising and the promotion of Stan Sport through Laundy venues. In a media release issued today, Nine CEO Matt Stanton sought to reassure staff, describing the deal as a positive outcome for radio employees as the new owners look to invest in and grow the brands.
Craig Laundy, a director of the Laundy Family Office and son of veteran publican Arthur Laundy, who previously served as a federal MP before returning to the family business, said the group was committed to backing management and station staff as it takes control of the network, describing talkback radio as a real time reflection of the “pub test”.
“The Laundy Family is backing management and all employees to work with us over the coming years to grow this business.”
Craig Laundy
The most unexpected element of the announcement is Nine’s decision to offload NBN, a long-established regional broadcaster whose NBN News service has been a dominant ratings force across Northern NSW, converting the Northern NSW station from a wholly owned business into a WIN Network operated affiliate
Nine will receive $14.8 million in cash consideration from WIN, alongside approximately $95 million in associated cash tax benefits, with the transaction expected to have a pro forma EBITDA impact of around $7 million in FY26, subject to shareholder and regulatory approval.
The move runs counter to the broader trend of consolidation seen across regional television in recent years, with Prime Media previously absorbed into Seven, Southern Cross Austereo exiting regional television before later acquiring Seven, and Network 10 bringing the majority of its regional licences under direct ownership last year.
Against that backdrop, Nine’s decision to relinquish ownership of NBN appears aimed at reducing capital intensity and operational exposure, while maintaining distribution through its long established affiliate model with WIN across most regional markets.
The NBN deal also deepens Nine’s longstanding relationship with WIN owner Bruce Gordon, one of Nine’s largest shareholders, adding an extra layer of intrigue to a transaction that few in the market had anticipated.
The group’s $850 million acquisition of QMS represents the largest single transaction in the restructure and follows Nine’s stated intention to rebalance towards higher growth digital businesses.
The deal significantly expands Nine’s out of home footprint and is expected to strengthen its cross platform advertising proposition across broadcast, streaming, publishing and outdoor, with digital growth assets forecast to contribute more than 60 per cent of group revenue by FY27.
Nine Group CEO Matt Stanton said the combined transactions represent a major step in the company’s long term strategy, positioning the group to better withstand industry disruption while sharpening its focus on digital growth.
“These transactions will create a more efficient, higher growth, and digitally powered Nine Group for our consumers, advertisers, shareholders and people.”
All three transactions are expected to complete before 30 June 2026, subject to regulatory and shareholder approvals, and together represent a tightly linked financial reset following Nine’s exit from Domain last year.
The combined deals deliver more than $217 million in cash proceeds and tax benefits, offsetting capital gains liabilities while positioning the group for low double digit earnings accretion once full cost synergies are realised.
It now remains to be seen what changes, if any, WIN will make to NBN’s on-air identity and local news offering once the transition is complete, including whether the long-running NBN News brand and its flagship 6.00pm bulletin will continue in their current form.
*This article updates
$15m is a lot cheaper than the $250m Jamie Packer’s PBL bought NBN for back in May 2007. Times have certainly changed. No doubt there’ll be more changes in the NBN newsroom to come.
Did not expect the sale of NBN
Wonder how WIN will operate NBN…? If you compare how they operate the shoestring Victorian and NSW arms with local news – I’d be a bit concerned.
You are correct to be concerned. Just look at WIN’s track record and it’s not a good track record if you ask me
I’ll be honest. I did not have Nine selling NBN on my bingo card this year, and I certainly did not have WIN buying anything on my bingo card either. I actually had Nine acquiring WIN on my bingo card. Guess that won’t be happening now.
I feel awful for the fine people who work at NBN and the viewers who watch NBN’s nightly news bulletin. Knowing how WIN does their news bulletins, I sadly suspect major cutbacks (no more weekend news, for one, as WIN doesn’t do that), an end to local production (would shift to WIN’s headquarters), and a timeslot change (5:30pm to align with when WIN News airs in other markets) are all coming. I hope I’m wrong. I want to be wrong. I fear I’m not.
Nine has been killing NBN off for ages
Let’s be honest – this is where things usually end up when WIN TV comes into the picture.
NBN Newcastle was established in 1962 as Australia’s first regional TV station. It wasn’t just a news service – it was a full production house. Entertainment, kids’ TV, local sport, community programs. It told Hunter stories because the people making the calls actually lived here.
Now it’s basically been reduced to news and Nine network programming.
And under WIN TV and Bruce Gordon, the fear is pretty clear. A shorter “local” bulletin, wrapped around Sydney news, with production centralised – likely out of Wollongong. Fewer journalists, fewer decision-makers on the ground, and less genuinely local reporting. That’s not speculation – it’s the WIN TV model that’s played out in other regions.
This isn’t about nostalgia. It’s about what happens when local news is treated as a cost to be cut rather than a service to the community. Once editorial control leaves the region, it doesn’t come back.
We probably don’t get much of a say in Newcastle – this is happening everywhere in regional journalism. But that doesn’t mean people shouldn’t be concerned about what WIN TV could do to NBN News over the next year or two.
Regional journalism and local sport coverage matter. Once those jobs, skills and local voices are gone, they’re gone for good.
Curious what others think – is this just inevitable now, or should Newcastle expect better?
It sounds terrible. We need local news like never before – more people are moving to the regions, especially Newcastle/Lake Macquarie. This is no time to be cutting back on local content.
… nope, NBN was not “Australia’s first regional TV station” Peter Jolly, GLV 10 Traralgon was …
The 1st regional Television station in NSW.
… and “NSW” isn’t “Australia” Bam Bach …
Did I say Australia? No!!
… did I correct someone that erroneously claimed “Australia”? yes!! Bam Bach just had to stick its nose in for no reason …
Oh sorry Cee Jay. I didn’t realise I had to ask for your permission to comment. 😆
It’s an open forum! My comment was a simple statement. The end.
… an irrelevant “simple statement” from Bam Bach, but nobody cares so it doesn’t matter, the end …
Oh my god. YOU obviously care Cee Jay. 🤣🤣
Peter Jolly the fact that nbn sold for $15m shows how depressed tv licences are. remember back in 2007 the nine network paid $250m for nbn from soul pats. based on how win canberra was treated i expect a pre-recorded news show out of wollongong in less than 12 months. maybe a news bureau still in newcastle but not much more than that.
I’m not so sure. There used to be news studios in Rockhampton, Toowoomba, Ballarat, Canberra, possibly mount gambier and Hobart, but WIN all closed those studios and made it all based in Wollongong. I won’t be surprised to see Newcastle studio closed and all news to be based in Wollongong.
Most likely it won’t be called NBN News anymore it will be WIN News
Back in the golden days of NBN Television, the owners of the station were shareholders that lived in the community of Newcastle and the Hunter Valley.
Locals providing a community service for the locals. Vale, NBN News/Television.
Another nail in the coffin of Local Television, NBN in particular was a major Local identity in Newcastle and the Hunter Region…hard to believe it’s future is now very uncertain and shakey. I feel for the staff Of NBN Newcastle.
The Cheez TV Generation they don’t have the rights
Warner will make you pay for it on HBO Lax or some such rubbish
Such a shocking move. NBN News has been rating very well in Northern NSW. It dominates Newcastle for sure as locals there are used to seeing NBN News on their screens every night at 6pm.
What do I think will happen to NBN’s on-air identity, news and all? Firstly, R.I.P Big Dog, I reckon once WIN takes over that’s it for him. In recent times, Big Dog has been a nightly institution, bidding kids a very goodnight at around 7:30pm. Under WIN? They’ll probs just seek to kill it off sadly. Truth is, WIN just runs a dirty feed of the capital city Nine Network stations in regional markets but with local advertising. The only breakaway programming is Tipping Point at 4:30pm then WIN News at 5:30pm, before the capital city 9News at 6pm. Markets without WIN News altogether only get local advertising as opt-outs on their respective WIN stations.
I expect NBN News will come to an end shortly after completion of the sale, and the Newcastle studio will probs likely be sold off, with Northern NSW news very likely to be consolidated to Wollongong.
Re-enter WIN News into Northern NSW, except now as fully blown-out 1/2 hour bulletins rather than short 2-min noodles previously on now ex-WIN10 Northern NSW. Except, they likely won’t be local to each market, just 1 statewide bulletin, only local in-name only and during the weather.
I really feel for the staff at the Newcastle studios right now, I just hope everyone there finds suitable roles elsewhere within the Nine Network, or makes the move over to other networks like Seven. Because I can safely say NBN News is now on life-support, waiting for its final death knell day to come.
I know how WIN does their news, and I’m not done yet. Playout of the station may as well be transferred to MediaHub, aligning it with the rest of WIN’s national footprint in regional markets.
The win news here in Victoria comes out of Illawarra nothing from Victoria regional Gippsland
will nbn be changed back to Win again for Mid North coast/North coast again?
Yes. How it will work is that WIN will replace NBN TV and it will be a channel 9 station instead of 10. Possible changes including replacing one hour of NBN News with 30 minute of WIN News from Monday to Friday most likely at 5 30 pm followed by 9 news from Sydney
Great, hopefully they now get rid of the know all tom Elliott and the giggles idiot on afternoons
WIN Killed of a Great TV Station when they took over Now its a Shadow with some journalists but the News read out of Woolangong
I would say things are not all over yet at 9. Bruce Gordon is the largest share holder and as time goes it looks that 9 and WIN will work together with WIN holding the regionals and 8 cap cities and Darwin for greater tax reasons. 9 can then in the future take a share holding in WIN which may then realise losses. 9 is good at accounting
The late Mr Kerry Packer would be very proud
He always wanted a diverse range of investments
He always wanted the best for his long time business partner in WinCorp hence why NBN TV was sold making it part of a true regional network
He always wanted a stake in a newspaper division – got it with the Age /SMH
He always wanted Fairfax – got it with the creation of STAN TV
None like 10 full of bad ideas especially the mass sacking on aw , give it 10 years free to air TV won’t exist