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And there was the option of "selling" 2CH to the Council of Churches for $1 and for Macquarie to continue to manage and program the station for them in exchange for 50% of the profits. But surely ACMA would have seen straight through that ploy as being an attempt to hold a third Sydney licence until/if the media laws change.
As a low-cost, three capital city (Sydney, Melbourne, Brisbane) package, the Magic network would have to be an attractive proposition for a group without any current capital city licences, such as Grant Broadcasters, providing the price was right.
Why rebrand if they need to sell a single station? It would appear they intend to off-load all 3. Alternatively they could sell off 2UE.
They already knew government was going to change media ownership laws. This new policy is not good for diversity.