Melbourne Radio Licence

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Monday 10 January 2000

DMGT is pleased to announce that early this morning in Australia, Melbourne Radio Pty Limited, a subsidiary, was the successful bidder in the auction for a new FM licence covering Melbourne, at a price of A$70 million (£26 million) to be paid in cash.

Melbourne is the second largest revenue radio market in Australia with a potential audience of more than 3 million.

The Melbourne licence is the second FM metropolitan licence that DMG Radio Australia has acquired this year following the successful bid in May for the Sydney FM licence. The addition of the Melbourne FM licence adds to the network of 59 radio licences that DMG Radio Australia has built up over the past 4 years and will complement the metropolitan licences that the group already holds in Sydney and Adelaide.

Peter Williams, Finance Director of DMGT, said:
"DMGT is delighted to have been successful in the bid for the Melbourne licence. The licence will further enhance our position in the Australian radio market and will provide a strong nucleus along with the Sydney and Adelaide licences in making DMG Radio Australia a major force in the Australian radio industry."

Melbourne Radio Pty Limited and DMG Radio Australia Pty Limited are owned by DMG Radio Investments Pty Limited, a 75% subsidiary of DMGT and 25% owned by GWR Group plc.

Inquiries to:
Peter Williams, Finance Director, DMGT 020 7938 6631