Mediaworks has secured 27 licenses around New Zealand on the same day that NZME paid $7.8 million for a Christchurch license.
The licenses cost MediaWorks $7.4 million and it aims to turn George FM into a nationwide radio brand, extend Mai FM’s footprint into 12 markets, and launch a new nationwide radio station in 2015 with its newest acquisition.
It also retained a number of key strategic frequencies for its other radio brands in the auction, which was run by The Ministry of Business, Innovation and Employment. The licences last until 2031.
MediaWorks Group CEO, Mark Weldon says the result is a game changer for the commercial radio market.
“There are three key planks to our growth strategy. Securing these frequencies means George FM will be broadcast in Wellington, Palmerston North and Dunedin as well as Auckland. Mai FM will become the only nationwide Hip Hop and R&B radio station.
“We have acquired a new National radio network, and will launch a new station on those frequencies in 2015.”
MediaWorks Radio CEO Wendy Palmer says: “This is a spectacular result, and enables us to further extend the reach of our radio brands for the benefit of both listeners and advertisers.
“I want to acknowledge the excellent job done by the project team who worked together seamlessly across the business to deliver a winning outcome.”