Austereo
 | |
| Company type | Public (ASX: AEO) |
|---|---|
| Industry | Radio |
| Founded | 1980 |
| Defunct | July 2011 |
| Successor | Southern Cross Austereo |
| Headquarters | Melbourne, Australia |
Key people | Peter Harvie, Chairman Guy Dobson, Chief Executive Officer Craig Bruce, Head of Content Adam Lang, Director of Operations Kathy Gramp, Chief Financial Officer Jeremy McVean, Head of Digital Strategy Ross Forgione, Chief Information Officer |
| Products | Today Network (rebranded to Hit Network) Triple M Network Mix 94.5 (Perth) KOFM (Newcastle) Mix 106.3 (Canberra) Triple M Classic Rock (Digital Radio) |
| Website | www.austereo.com.au |
Austereo Radio Network formerly operated commercial radio networks in metropolitan and regional areas of Australia. On 6 April 2011, Southern Cross Media purchased a majority of the company and is in the process of unifying the Austereo networks with Southern Cross's regional brands. In July 2011, Southern Cross Media and Austereo were merged to form Southern Cross Austereo.[1]
History
The company was founded by Paul Thompson, and when commercial FM broadcasting was introduced into Australia it acquired the licence for the metropolitan Adelaide area; SAFM commenced transmission in late 1980. The next station to join the network was FOX FM in Melbourne in 1986, eventually to be followed by Sydney's 2Day FM and 4BK Brisbane for which the company was successful in converting to the FM band in 1990. Austereo also purchased Perth AM radio station 6IX with the intention of converting the station to FM. 6IX, which had been re-launched by Austereo as The Eagle 1080 AM, was consequently sold off after being outbid for either of the two new FM licences by rivals 6KY and 6PM, which Austereo now own.
1992 saw a monopolistic arrangement take place whereby Austereo purchased the Hoyts owned Triple M network, and Village Roadshow in turn purchased Austereo to form a single umbrella company. The purchases were part of a single deal that was unpopular due to the fierce rivalry between the two radio networks, and the fact that Village Roadshow and Hoyts were also direct competitors in the film industry.
Austereo had joint partnerships in Canberra. Australian Radio Network and Austereo have a joint partnership with 104.7 and Mix 106.3. Austereo is varied in the ratings, as of the last survey of 2009, its Hit Music stations top the FM ratings in most markets, with 2Day, Fox FM and B105 being the top FM stations in their respective markets, SAFM second in Adelaide and 92.9 coming in close behind sister station Mix 94.5 in Perth.[2]
Conversely, Austereo's Triple M group of stations have suffered heavily from increased competition from new station Vega 95.3 and Vega 91.5 in Sydney and Melbourne respectively, with the stations in Melbourne and Sydney recording some of their lowest ratings of all time. Triple M stations currently occupy the last place among FM Commercial stations in the ratings, however in Brisbane and Adelaide they record much closer ratings results, with lower competition.
Corporate
Austereo was partially floated in 2001 on the Australian Stock Exchange. Its Ticker symbol was AEO.
As of July 2010 the upper management were:
- Peter Harvie, Chairman
- Guy Dobson, Chief Executive Officer
- Craig Bruce, Group Program Director - Triple M and Today Network
In March 2011, Southern Cross Media launched a A$714m takeover bid of national radio broadcaster, the Austereo Group.[3] On 6 April 2011 shareholders of the Austereo Group accepted the takeover bid, giving SCM a more than 90% share in the company.[4]
Radio operations
Today Network
Slogan: "<city name>'s Number 1 Hit Music Station"
- 2Day FM - Sydney 104.1 MHz
- Fox FM - Melbourne 101.9 MHz
- B105[5] - Brisbane 105.3 MHz
- SAFM - Adelaide 107.1 MHz
- 92.9 - Perth 92.9 MHz
- NXFM - Newcastle 106.9 MHz (formerly a joint venture between Austereo and Southern Cross Media)
Since the purchase of the Austereo network by Southern Cross Media, Sea FM was incorporated into the Today Network.
Triple M Network
Slogan: various
- 2MMM - Sydney 104.9 MHz
- 3MMM - Melbourne 105.1 MHz
- 4MMM[5] - Brisbane 104.5 MHz
- 5MMM - Adelaide 104.7 MHz
- Mix 94.5 - Perth 94.5 MHz
- KOFM - Newcastle 102.9 MHz (formerly a joint venture between Austereo and Southern Cross Media)
Joint-Ventures
A joint venture of 50/50 ownership exists in Canberra with the Australian Radio Network where Austereo programs 104.7 and Mix 106.3 and ARN manages administration for both stations.
- 104.7 (joint venture with Australian Radio Network) - Canberra 104.7 MHz
- Mix 106.3 (joint venture with Australian Radio Network) - Canberra 106.3 MHz
Digital Radio Stations
| Name | Format | Launch Date | Close Date | Markets |
|---|---|---|---|---|
| Triple M Classic Rock | Classic rock | 25 November 2013 | N/A | All |
| The Main Stage | Touring artists music | 19 October 2010 | N/A | All |
| Radar | New Music | 11 December 2008 | 25 November 2013 | All (and Canberra) |
| Barry | Comedy | 16 July 2010 | 29 June 2012 | All |
| U20 | Under 20s Audience Generated Content Station | 1 July 2010 | 20 November 2010 | All |
| Caravan Radio | Hamish & Andy Caravan Of Courage | 24 May 2010 | 1 July 2010 | All |
| I See Red | Salvation Army Red Shield Appeal | 20 May 2010 | 16 June 2010 | All |
| Radio Gaga | All Lady Gaga | 15 March 2010 | 20 May 2010 | All |
| Choose the Hits | Real Time Requests | 27 November 2009 | 20 May 2010 | All |
| High Voltage Radio | All AC/DC | 10 February 2010 | 15 March 2010 | All |
See also
References
- ^ "Introducing the new look Southern Cross Austereo". Mumbrella. 21 July 2011. Retrieved 27 July 2011.
- ^ http://www.au.nielsen.com/site/documents/Metro411.pdf
- ^ Reuters, ACCC allows Takeover Bid, https://www.reuters.com/article/2011/03/17/austereo-idUSSDYGEE7W620110317
- ^ Southern Cross to raise 471m for Takeover Bid, Fairfax, http://www.smh.com.au/business/southern-cross-to-raise-471m-for-austereo-takeover-20110406-1d3gs.html
- ^ a b Austereo had a monopoly on the FM Commercial audience in Brisbane until the launch of Australian Radio Network/DMG Radio Australia joint venture 97.3 FM in 2004.