MediaWorks buys George FM
MediaWorks has bought Auckland-based dance music radio station George FM, and leased the Auckland frequency 96.8FM on which it broadcasts.
The Australian private equity-owned media company is already the parent of a string of radio stations through its RadioWorks brand (including The Edge, The Rock and Solid Gold FM) as well as TV stations TV3 and C4.
MediaWorks chief executive Brent Impey has been showing his business nous by successfully taking advantage of the uneven playing field in the radio market, in which commercial competitors are forced to pay millions for frequencies but Maori iwi are allocated them for free.
Last February, MediaWorks bought Mai FM, which broadcasts on 88.6FM in Auckland and was half-owned by Ngati Whatua.
Now its purchase of George FM sees it gain another commercial station on a Maori frequency.
George FM plays primarily dance music but during the early morning plays Maori content.
MediaWorks has leased the station from Manukau Urban Maori Authority (MUMA) and the Waipareira Trust.
MUMA chief executive Willie Jackson and Waipareira Trust CEO John Tamihere have a popular afternoon show on RadioWorks station Radio Live.
The deal is effective on February 28 and is not expected to result in any redundancies at George FM, apart from the departure of manager Jef Kay after a three month transition period.
He will be replaced by MediaWorks executive Emily Turnbull.
Mr Kay is a 31% shareholder in George FM’s holding company Local Media Group, through his company Really Interesting Media.
Other Local Media Group shareholders are MUMA (51%), Remix Media (9%) and Citizen Finance (9%).
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