Nine moves to acquire remaining stake in Macquarie Media DetailsLouise Duffy | 12 August 2019 Australian broadcaster Nine has announced an offer to acquire the remaining shares in rival firm Macquarie Media.Nine inherited the majority shareholding in Macquarie Media following its merger with Fairfax Media in December 2018.The offer values Macquarie Media at AUD$275.4 million and will see Nine pay $113.9 million (at $1.46 per share) for the remaining 45.5% stake in the talk radio business, which owns stations 2GB, 3AW, 4BC, 6PR and Macquarie Sports Radio.The acquisition will be financed from cash reserves and existing debt facilities and is expected to see cost synergies of more than AUD$10 million, mainly from combining support and administrative functions, and taking out some corporate costs such as ASX listing fees. Subject to getting sufficient Macquarie Media shareholder acceptances, the transaction is due to complete by December 2019.