It was the missing pearl in ARN’s necklace… 

2014 had been a tumultuous year for the network that just a few years ago had been an ‘also ran’ in the race for national network supremacy. 

But 2014 brought a remarkable resurgence spearheaded by the acquisition of Kyle and Jackie O and the rebranding of it’s Mix stations to KIIS. With unprecedented success for ARN as a network in Sydney, Brisbane, Adelaide and Melbourne, there was just one thing missing… a station in Perth.

That was remedied recently with the $78 million purchase of 96FM from Fairfax Radio which is currently undergoing a merger with Macquarie Radio Network.

Radio finance specialist Bob Peters of GMA recalls that In January 1998, Austereo sold 96FM to Southern Cross Broadcasting (Australia) Limited (SBC), which back then was still a public company listed on the Australian Stock Exchange, for only $15.0 million. 
 
A decade later in November 2007,  SBC’s radio operations, including 96FM, were purchased by Fairfax Media.
 
ARN’s (or parent APN’s) purchase price of $74m in 2015 represents a 393% profit on SBC’s purchase price of $15m back in 1998.  It also represents a compound annual  growth rate of 9.8% per annum on SBC’s original purchase price.

The other day, ARN CEO Ciaran Davis and Group Content Director Duncan Campbell flew from Sydney to Perth to look over the facilities and meet the staff. 

It was a homecoming for Duncan Campbell. Perth was an early stamping ground that helped launch his international career with early success at PMFM (now hit 92.9) in 1991 which saw the station move to No 1 overall within five months.

Here’s what he messaged from the QANTAS lounge.