Article: Britain's Daily Mail Group beats Richard Branson in auction battle for Sydney FM radio license


AP Worldstream
04-15-2004
Dateline: SYDNEY, Australia
Britain's Daily Mail Group paid 106 million Australian dollars (US$78 million) Thursday for a license to run an FM radio station in Sydney _ beating out a consortium that included Richard Branson.

DMG runs the successful Nova radio brand which already has a Sydney station. It outbid the joint venture between British billionaire Branson and John Singleton's Macquarie Radio Network at an auction in Sydney.

It said it hoped to have its second Sydney station on the air by Christmas and would be aiming for a different audience than its youth-oriented Nova station.

"I think it's probably logical to suggest that it would be very silly ...

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