AUSTRALIA’S AUSTEREO RADIO GROUP SELLS ITS INTEREST IN GREEK RADIO STATION
January 16th 2008 09:37
In a brief announcement to the Australian Securities Exchange yesterday, Austereo Group Ltd advised that it has sold its interest in Greek radio station Village 88.3 FM Athens, “consistent with the board’s commitment to focus upon the core Australian radio business.”
Austereo said the he sale will have no material impact on the trading results for the current financial year or the balance sheet of the company.
No other details were provided.
A 2002 Austereo annual report stated that Village 88FM was relaunched in October 2001 and quickly grew to number one in the market. It then had a 12 percent audience share of a 10.5 million population.
Austereo has claimed to be the "largest radio broadcaster outside America" but this has been questioned.
It is however a dominant commercial network in Australia.
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