Macquarie Media has reported financial year 2017 EBITDA was up 17% and profit after tax jumped 21%. Revenue for the 12 months was down 2% to $131m. The company noted the result is up significantly on the combined earnings of Fairfax Radio and Macquarie Radio prior to the merger of the two companies in April 2015.
The company reported core radio revenues were flat against the prior year.
The business includes four metro news/talk stations – 2GB, 3AW, 4BC and 6PR – plus the rebadged Magic brands now operating as the Talking Lifestyle network.
Revenue share was maintained despite 2GB and 4BC breakfast announcer Alan Jones being off air for four months during the year.
In January Macquarie Radio sold its Sydney AM music station 2CH for $5.56m to EON Broadcasting, a business owned by Glenn Wheatley, John Williams and Oceania Capital.