DMGT pays £25m for Australian radio licence
LONDON - UK media group the Daily Mail & General Trust has paid £25m for a radio licence in Brisbane, Australia through its joint venture radio station, Brisbane Radio Pty.
Brisbane Radio Pty is a joint venture between DMGT's DMG Radio Australia and the Australian Radio Network.
DMG Radio Australia already owns FM licences in Sydney and Melbourne, an AM station in Adelaide and 57 regional licences across Australia.
DMG Radio Australia is 75% owned by DMGT and 25% owned by GWR, owner and operator of Classic FM.
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