Oz’s DMG makes radio buy

DMG Radio, a subsid of the U.K.’s Daily Mail and General Trust Group, went from being a minor player to owning Oz’s largest radio web with last week’s A$88 million ($65 million) purchase of the 25-station Rural Press web.

Just one year after entering Oz, DMG has forked out $125 million for 55 stations in 29 Oz markets, competing against Village Roadshow’s Austereo, Cameron O’Reilly’s Australian Radio Network and Reg Grundy’s RG Capital.

“Australia is now the single biggest country in terms of money we’ve got invested,” said Charlie Cox, DMG’s U.K.-based chairman. “It’s half the core strategy of DMG Radio.”

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