Singo sells out of Macquarie Radio | radioinfo

Singo sells out of Macquarie Radio

Wednesday 25 September, 2019

John Singleton has confirmed to the Australian Stock Exchange that he will sell his shares in Macquarie Media Limited to Nine Entertainment.

Singleton holds 55.3 million shares, which will now give Nine voting power over 87% of the company.

Alan Jones has also confirmed that he will sell his 1% stake in the company to Nine.

The other major shareholder, Mark Carnegie, has not yet confirmed whether he will accept Nine's offer.

A notice to the stock exchange today confirmed Singleton's acceptance of the offer.

Eighty year old Singleton has told The Australian (subscription required)

“It’s 10 times last year’s earnings­ and, last time I looked, that’s bloody good...

“I’m still very interested in media, apart from breeding horses and canaries … it would be about No 3 or 4. And I can’t stand the thought of playing golf or bowls. I’m not going to be looking for any opportunities, and I’ve got enough interests … I’ve got the Bonython development up here, we are the major developer on the central coast.”


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