Lachlan Murdoch’s Illyria group has bought 50% of DMG Radio Australia, the owner of Nova and Vega FM, for $110 million, in a deal that will see him become the chairman of the entire operation.
DMG Radio Australia
Murdoch siezes control of DMG
Lachlan Murdoch’s company Illyria is set to buy 50% of DMG Radio Australia, putting him at the helm of some of the country’s biggest radio stations, including Nova FM and Vega FM.
Nova and Vega FM defy GFC
DMG Radio Australia increased its profits and grew its underlying revenue by 1%, despite a 4% decline in the radio advertising market in Australia.
