Is there a pulse?

The proposed $200 million merger between Macquarie Radio Network and Fairfax Media collapsed in February.

Back then, it turned into a public slanging match in the media between John Singleton – major shareholder in Macquarie Radio Network (owner of 2GB) and Fairfax Media.

“I'm going to watch it (Fairfax) die slowly. I'll wait til they are absolutely f . . ked and buy it off the receivers”, Singo was quoted as saying 

Now the Fairfax CEO could revive merger talks.

With the Fairfax Media results released last week, the overall performance by the company was strong but less positive for the radio division.  “Radio experienced a decline in revenue of 6% for the year which was disappointing”, said Greg Hywood.

Asked today in the Australian Financial Review, whether a merger with Macquarie was still an obvious move at the right price, Fairfax Media chief executive Greg Hywood said: 

“We’ve always seen that a consolidation of radio talk, news and sport is a pretty rational thing to do. It didn’t occur for a variety of reasons. It doesn’t mean it won’t occur in the future.”

Talking further on the past, Greg Hywood acknowledged that negotiations had caused instability within Fairfax’s radio division.

 “People were not focused,” The radio team under managing director Adam Lang, “bounced back” once the talks were resolved. 

We said it back then, it holds true again now. Watch this space.

You can view the entire story at The Australian Finacial Review here.