As reported earlier FXJ are looking to sell their radio assets. This division has been performing reasonably well, mainly due to Melbourne ( 3AW ) and Brisbane ( 4BC ) along with a host of other stations in Capital and Regional cities, however, in Sydney ( 2UE ) it is being hammered by MRN ( 2GB and 2CH ). Fledgling station MTR 1377 is in it's early days but I have no doubt that this station will gain in market share over time. In my opinion MRN has the best quality Management, Presenters , Staff and Products in the radio industry. Furthermore they are owned by investors who understand and are committed to the radio industry long term. I will be watching with interest as this sale unfolds as ,in my view, MRN is the logical buyer of these assets.
MRN Price at posting:
$1.18 Sentiment: Buy Disclosure: Held