22 April 2004
$80 million bid for new Brisbane commercial radio licence
Daily Mail (UK Radio 2) bid $80 million for a new commercial FM radio licence to serve Brisbane at an Australian Broadcasting Authority auction today.
"The ABA is very pleased with the result of today's auction," said Professor David Flint, ABA Chairman. "It indicates how commercially valuable the FM band is. The level of bidding demonstrates a real depth of interest in the market and shows that the radio frequency spectrum is a public asset of great worth. When this new service goes to air, it will add to the diversity of radio services for listeners in the Brisbane market."
The ABA made licences available for two new commercial and three new community radio services in its licence area plan for Brisbane.
Full payment for the licence must be made between 6 and 8 June 2004. The ABA will allocate the licence, on frequency 106.9 MHz as soon as possible after full payment is received.
If a successful applicant fails to meet any of the requirements of the price-based allocation systems or relevant legislation, the licence will not be issued to the applicant. The ABA may then re-offer the licence for allocation. Commercial broadcasting licensees must begin a service within one year of being allocated the licence (or within a longer period with the ABA's permission).
To contact Daily Mail (UK Radio 2), please call Paul Thompson on 0419 257 357.
Media contact: Donald Robertson, ABA Manager Media & PR on 0418 861 766, or Anne Parbury on (02) 9334 7873.