Austereo was an

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mass media Mass media include the diverse arrays of media that reach a large audience via mass communication. Broadcast media transmit information electronically via media such as films, radio, recorded music, or television. Digital media comprises b ...

company based in

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. It was founded in 1980 by Paul Thompson, and operated 16 radio stations in metropolitan and regional Australia under the Today Network and Triple M brands. In 2011, the company's majority shareholder Village Roadshow sold its shareholding to Southern Cross Media Group, which began trading as

Southern Cross Austereo Southern Cross Media Group Limited, Trade name, doing business as Southern Cross Austereo, is an Australian media company which operates broadcast radio and Terrestrial television, television stations. It is the largest radio broadcaster in Au ...

from 21 July.

History

The company was founded by broadcaster Paul Thompson, who upon the commencement of

FM broadcasting FM broadcasting is a method of radio broadcasting that uses frequency modulation (FM) of the radio broadcast carrier wave. Invented in 1933 by American engineer Edwin Armstrong, wide-band FM is used worldwide to transmit high fidelity, high-f ...

in Australia acquired the first

commercial radio Commercial broadcasting (also called private broadcasting) is the broadcasting of television programs and radio programming by privately owned corporate media, as opposed to state sponsorship, for example. It was the United States' first model ...

licence for the metropolitan

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area. SAFM commenced transmission in September 1980, with the Austereo Network established in 1986 following the company's acquisition of Fox FM Melbourne. In 1988, Austereo acquired FM104.7 and 2CA in Canberra as well as 4BK Brisbane and 6IX Perth. The company then bid to convert the BK and IX stations to the FM band. In Brisbane, the company was successful, relaunching 4BK as B105 FM in February 1990; in Perth, the company was outbid by 6KY and 6PM, and consequently sold the station to Radio West. In May 1989, the company extended its reach into Sydney with the acquisition of 2Day FM. In 1995, Austereo purchased the Triple M network from Hoyts Media, adding a further five radio stations to the company's portfolio. The existing Austereo stations were rebranded to the Today Network. Subsequently, rival cinema chain Village Roadshow acquired control of Austereo, with Thompson departing as CEO. On 22 January 1996, Austereo purchased KOFM and NXFM in Newcastle from Radio Newcastle Pty Ltd. Austereo would go on to sell 50% of its stake in these stations to RG Capital. In March 1997 Austereo's managing director, Mr Peter Harvie, announced the network would be entering a joint venture with ARN to effectively amalgamate FM104.7 and Mix 106 in Canberra. Under competition laws, Austereo was required to sell 2CA, with Harvie commenting the station would be 'disposed of immediately'. At the time, Harvie stated that the deal was peculiar to the Canberra market and the company had 'no intention' of implementing similar ventures in other capitals. In September 1997 the ACCC ruled in favour of Austereo's acquisition Perth's highest rating radio stations of PMFM and 94.5FM from Jack Bendat, selling Triple M Perth to

Southern Cross Broadcasting Southern Cross Broadcasting (Australia) Limited was a diversified Australian media company, that owned and operated a variety of media businesses, primarily in radio and television. History Tony Bell was managing director of the business betwe ...

. The ACCC required that the new owners of Triple M change the call sign, with Austereo retaining the right to rebrand either of its new stations to Triple M. This finally occurred when the 92.9 FM frequency (originally PMFM) was rebranded to Triple M Perth in December 2020. Village Roadshow partially floated the company on the

Australian Securities Exchange Australian Securities Exchange Ltd (ASX) is an Australian public company that operates Australia's primary Exchange (organized market), securities exchange, the Australian Securities Exchange (sometimes referred to outside of Australia as, or c ...

in 2001 under the ticker symbol AEO, increasing its share in the company to 61.8% in 2004. In January 2011, industry publication ''Radioinfo'' reported Village Roadshow were "in discussions" to sell its majority shareholding in Austereo. On 31 January, Southern Cross Media Group announced it had offered to purchase Village Roadshow's 52.5% shareholding for $741 million. The bid was approved by the Australian Competition & Consumer Commission on 18 March and formally accepted by Village Roadshow later that month. On 6 April, Austereo shareholders accepted the takeover bid, and on 27 July Southern Cross Media Group commenced trading as

, merging the Today and Triple M radio networks with the group's regional radio stations.

Assets

Today Network

* 2Day FM * 92.9 * B105 * Fox FM * SAFM * 104.7 (joint-venture with Australian Radio Network) * NXFM (joint-venture with Southern Cross Media Group)

Triple M

* Triple M Sydney * Triple M Melbourne * Triple M Brisbane * Triple M Adelaide * Mix 94.5 * KOFM (joint-venture with Southern Cross Media Group) * Mix 106.3 (joint-venture with Australian Radio Network)

Digital radio

* Barry *

Radar Radar is a system that uses radio waves to determine the distance ('' ranging''), direction ( azimuth and elevation angles), and radial velocity of objects relative to the site. It is a radiodetermination method used to detect and track ...

* The Main Stage ;Former * Choose the Hits (2009–2010) * High Voltage Radio (2010) * Radio Gaga (2010) * I See Red Radio (2010) * Caravan Radio (2010) * U20 (2010)

References

External links

* {{National radio networks in Australia Southern Cross Media Group Companies formerly listed on the Australian Securities Exchange Mass media companies established in 1980 Mass media companies disestablished in 2011 Australian companies disestablished in 2011 Australian companies established in 1980