There has been ongoing speculation that MRN will move on Fairfax Radio assets for a number of years, up to now, FXJ have been unrealistic with their asking price. Now that FXJ has new management intent on offloading non core assets that don't fit it's business model they are seriously looking at selling this asset. John Singleton and Mark Carnegie ( Major Shareholders in MRN ) have been trying to purchase these assets for a few years now as it would be a perfect fit for MRN's AM radio business ( 2GB, 2CH and MTR 1377 ). MRN has always been well run but under the stewardship of Russell Tate the true value of this business is starting to emerge. At current levels MRN is one of the highest fully franked dividend yield stocks on the market and, in my view, is substantially undervalued.
There are numerous articles concerning this possible transaction but I have included a link to the most recent.
