DMGT's £43m bid secures licence for Sydney FM Radio

The Daily Mail and General Trust has expanded its broadcasting interests in Australia after its bid of A$106m (£43m) won the licence for Sydney FM Radio.

The Trust, which owns Associated Newspapers and its flagship the Daily Mail, regional Northcliffe Newspapers, Euromoney magazines and television listings service Teletext, won the licence in an auction by the Australian Government last week at which it paid £4.3m, with the other 90 per cent due in 45 days.

According to the DMGT, Sydney FM Radio will launch later this year, making use of the facilities of the Trust’s existing Sydney-based station, Nova 969, which launched in April 2001.

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