Australia’s largest media company, Nine Entertainment, has sold its talkback radio stations for $56 million to Sydney pub baron Arthur Laundy. The sale covers popular stations including 2GB, 3AW, and Magic1278. This move comes as radio profits fall and listeners grow older. Arthur Laundy, 85, inherited two pubs in 1969 and now runs a group of 40 venues worth $1.75 billion. His son Craig Laundy, a former Liberal minister, manages the family business. He said, “We see strong similarities between hotels and talkback radio.” Craig added, “Patrons in our venues are at the centre of everything we do and we will have that same ethos with our listeners.” Nine also converted its regional TV station NBN in northern NSW to an affiliate. At the same time, Nine bought outdoor advertising company QMS Media for $850 million. QMS operates digital billboards nationwide, including key contracts like the City of Sydney. Nine plans to use QMS to boost subscriptions for its newspapers and promote its streaming service, Stan. Nine’s CEO Matt Stanton said, “These transactions will create a more efficient, higher-growth, and digitally powered Nine Group.” He added the changes will help the company handle industry challenges and deliver lasting value. 2GB breakfast host Ben Fordham called the radio sale “fantastic news” and promised “business as usual.” He said the Laundys “love 2GB” and are “really good people.” Staff were told to expect Arthur and Craig Laundy at the offices soon. Stanton said, “It’s a good outcome for our radio employees as the Laundys look to invest in and grow the brands.” The surprise sale was first revealed by The Australian Financial Review’s Street Talk column. Nine had earlier sold its stake in real estate portal Domain for $1.4 billion as part of its major restructure.