Fairfax to raise about A$96M selling 96FM to APN, merging radio assets with Macquarie

Dec. 22 (BusinessDesk) - Fairfax Media plans to raise about A$96 million by selling its Perth-based radio station 96FM to APN News & Media and merging its remaining radio assets with Macquarie Radio Network.
APN will acquire 96FM for A$78 million using cash and existing debt facilities, subject to regulatory approvals, rounding out its suite of state capital stations in Australia.
Meanwhile, Fairfax will merge its Fairfax Radio Network unit with ASX-listed Macquarie Radio Network (MRN), generating about A$18 million in cash and giving th...
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