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Seven West ‘may buy 2GB’

Seven proprietor Kerry Stokes is turning his attentions to radio, reports today’s Australian Financial Review.

According to the newspaper, Seven West Media – which includes the Network Seven, Pacific Magazines, The West Australian newspaper and Yahoo!7 portfolio – may be contemplating a merger or takeover of Macquarie Radio Network. MRN’s flagship asset is Sydney talk radio station 2GB.  

Among the owners of MRN are John Singleton and investor Mark Carnegie.

12.55pm update: Seven West Media has issued the following statement to the ASX: “In response to an ASX query, Seven West Media (SWM) rejects speculation in the newspaper report today. For avoidance of doubt, SWM has no current plans to expand its media businesses beyond the radio stations it currently owns in the Group and is not involved in negotiations to acquire radio assets directly or indirectly.”

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