Austereo Radio Network

Austereo was an Australian mass media company based in Melbourne. It was founded in 1980 by Paul Thompson, and operated 16 radio stations in metropolitan and regional Australia under the Today Network and Triple M brands. In 2011, the company's majority shareholder Village Roadshow sold its shareholding to Southern Cross Media Group, which began trading as Southern Cross Austereo from 21 July. History The company was founded by broadcaster Paul Thompson, who upon the commencement of FM broadcasting in Australia acquired the first commercial radio licence for the metropolitan Adelaide area. SAFM commenced transmission in September 1980, with the Austereo Network established in 1986 following the company's acquisition of Fox FM Melbourne. In 1988, Austereo acquired FM104.7 and 2CA in Canberra as well as 4BK Brisbane and 6IX Perth. The company then bid to convert the BK and IX stations to the FM band. In Brisbane, the company was successful, relaunching 4BK as B105 FM in February 1990; in Perth, the company was outbid by 6KY and 6PM, and consequently sold the station to Radio West. In May 1989, the company extended its reach into Sydney with the acquisition of 2Day FM. In 1995, Austereo purchased the Triple M network from Hoyts Media, adding a further five radio stations to the company's portfolio. The existing Austereo stations were rebranded to the Today Network. Subsequently, rival cinema chain Village Roadshow acquired control of Austereo, with Thompson departing as CEO.