Nine makes move to buy rest of Macquarie Media

Nine is aiming to take sole ownership of Macquarie Media with an offer that values the 2GB and 3AW owner at $275.4 million.

Nine, the publisher of this website, currently controls 54.5 per cent of Macquarie Media, which owns radio stations also including 4BC, 6PR and Macquarie Sports Radio.

If the move is successful, Nine will own 100 per cent of the shares of the radio broadcaster.

An independent board committee established by Macquarie Media to evaluate the deal unanimously recommended shareholders accept the offer in the absence of a superior proposal, subject to the review of an  independent expert, Nine said in a statement.

Nine CEO Hugh Marks said: "The acquisition of Macquarie Media consolidates Nine's position as a supplier of News and Current Affairs content across all our key platforms – television, digital, print and now Radio."