Wave FM and other South Coast radio stations will change hands after parent company Grant Broadcasters was bought for just over $300 million.
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Radio company Here, There & Everywhere (HT&E) bought out the business, which includes 58 regional stations.
As well as Wave FM, the deal also includes Power FM, 2ST Nowra, Shoalhaven and Southern Highlands and 2EC Bega.
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The regional footprint of Grant was one of the main appeals for HT&E.
"Strategically, this transaction fits very well with the growth ambitions we have for HT&E, allowing us to expand our audience base and fast-track the delivery of our digital audio content and advertising opportunities across Australia," said HT&E CEO and Managing Director Ciaran Davis.
The total cost of the deal is $307.5 million and is expected to be completed by January 2022
"Grant Broadcasters are delighted to be partnering with HT&E, who we consider to be the leading provider of radio and digital audio in Australia," Grant CEO Janet Cameron said.
""For 80 years Walter Grant, his daughter Janet Cameron and her family have been operating regional radio stations that serve local communities in regional Australia.
"We are so very proud of the connection the stations have with those communities and with our staff for continuing that commitment."
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