WorldAudio says it is on schedule to complete the deployment of up to 40 transmission sites across Australia for the Radio 2 national AM commercial broadcast network.
This follows shareholder approval of an $8 million capital raising program, which has closed fully subscribed.
WorldAudio Radio 2 boss, Andrew Thompson, says directors issued up to 40 million new shares at 20 cents each.
“The directors would like to extend a warm welcome to new shareholders and acknowledge those existing shareholders who took part in the placement and thank them for their ongoing support.
“Construction of a state of the art National Digital Network Operations Centre [NOC] at the Homebush Olympic Park is under way and due for completion in November.
“WorldAudio is at the forefront of the introduction of Digital Radio Broadcasting [DRB] in Australia
and will continue to expand its efforts in this area.
“The Melbourne DRB trial on Ch 9 VHF Band III, [Australia’s first] has entered the consumer research phase, with the participation of more than 200
“Radio 2 Digital can be heard in more than one million homes Australia wide, as part of the basic subscription package on the Austar-Foxtel Digital & Satellite TV platform.”