Would-be suitors who submitted unsolicited offers for Nine Entertainment Co. Holdings Limited (ASX:NEC) talkback radio business have begun jostling for position and pre-emptively drafting succession plans for the division following the media giant's admission it would consider selling the network. Nine chief executive Matt Stanton told staff on September 25, 2025 that the potential sale of the company's network of talkback radio stations - including Sydney's 2GB, Melbourne's 3AW, Brisbane's 4BC and Perth's 6PR - would rest on the outcome of an internal review into the viability and value of the audio assets.
An early stumbling block has emerged, though - while Nine has been hopeful the review would reinforce its aspirations to attract bids close to $60 million, prospective buyers have indicated they would be willing to negotiate only within a $35 million-$40 million price range. Industry sources have told The Australian that multi--millionaire former adman John Singleton, who sold his last 32.2% stake in Macquarie Media radio network to Nine six years ago for $80 million, has approached the network's former boss Russell Tait about reprising his executive chairman role should his current offer be successful. It's understood Mr. Singleton, 83, who has privately indicated he hopes to try to coax top-rating 2GB morning host Ray Hadley out of retirement as part of his -vision to reinvigorate the network's star appeal, would be keen to reinvest in the company only if he could buy it for a bargain basement price in the region of $35 million.
Rival bidder Australian Digital Holdings was also busy strategising in the wake of Mr. Stanton's announcement at a staff town hall meeting last Thursday that the company had received "a number of unsolicited offers" for its audio assets in recent months. ADH chairman Maurice Newman and chief executive Jack Bulfin were among the first parties to register interest in taking over Nine's radio division, after lodging a formal offer with the company's then chair, Catherine West, to buy the talkback network as part of a $42 million bid with "all proceeds" to be paid in cash up front. Any prospective purchase of the Nine-owned radio arm would take a matter of months, not weeks, to nail down, and a deal would still need to be signed off by the Australian Competition & Consumer Commission, the Australian Communications and Media Authority, and Jim Chalmers.
In his staff briefing, Mr. Stanton said all options were on the table: the company's audio assets might be sold, partially sold, or retained with further investment. There is also ongoing speculation that should Nine offload its network of talkback stations, it might invest in FM radio. Irrespective of a sale of its radio assets, however, Nine -remains committed to retaining its significant audio and podcasting platforms, The Australian understands.
