Confirmed: Grant Broadcasters has acquired 102.9 Hot Tomato

Following plenty of industry speculation, Grant Broadcasters has announced via an internal memo that it’s buying 102.9 Hot Tomato on the Gold Coast for an undisclosed sum.

Radio Today understands that due diligence has concluded with the sale to be completed by November 30. Hot Tomato joins the Grant Broadcasters stable of 52 radio stations across the country.

Newly appointed CEO Alison Cameron says the station is a perfect fit for Grants.

“We are thrilled to welcome Hot Tomato to the Grant Broadcasters family. The station’s ethos of live and local fits firmly into the values of our company and our other local radio stations.

“The Hot Tomato team has done an outstanding job in being the leading voice of the local community on the Gold Coast.”

READ: Live & Local: Why Hot Tomato is such a formidable force on the Gold Coast

Hot Tomato Broadcasting was established in 2002 when it purchased the Gold Coast license at a Federal Government auction. 102.9 Hot Tomato first aired on August 1, 2003.

Executive Chairman Hans Torv (pictured) says the sale represents a great opportunity for the business and staff.

“We’ve been approached by different groups a number of times about selling the business, and after consideration, the board implemented an expression of interest campaign.

“It was also time for us to either scale up or move on.

“The cultural fit with Grants’ was particularly important; they are genuine radio people, as are all the Hot Tomato team. This presents great opportunities for both the business and the terrific staff who have made Hot Tomato the success it is today.”

With the sale to be officially completed at the end of the month, there’s been no word of any planned changes to the staffing line-up.

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Wayne
17 Nov 2018 - 9:18 pm

This is not a good move. The owners are only after the money. Such a shame.

JASON TOPPIN
18 Nov 2018 - 8:37 am

WILL CHANNEL 9 BUY FRIM GRANT BROADCASTERS 2CC/ 2CA & 6IX TO ADD TO 3AW, 2GB, MACQUARUE SPORTS RADIO, 4BC & 6PR?

Damien
19 Nov 2018 - 9:47 am

@Jason Grant’s only part-own those stations, Capital owns the rest and Kevin won’t sell them off.

Radionerd
19 Nov 2018 - 3:24 pm

@Wayne, it is commercial radio afterall. These stations are all business units. Of course they want the money. But they also want to create radio, not syndicate within an inch of their local content threshold.

Brad Byrnes
30 Nov 2018 - 12:08 am

If Grant Broadcasters had any common sense they would leave Hot Tomato as is and not interfere. The recent ratings tell you that whatever HT is doing, is working well.

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