New Zealand media company Stuff has withdrawn from the race to acquire Australian radio broadcaster MediaWorks, according to reports citing an Australian media outlet.
The development effectively ends speculation that the Wellington-based publisher would expand its footprint into the Australian audio market.
With Stuff out of the picture, Lachlan Murdoch’s News Corp is now positioned as the leading candidate to take control of the radio firm, which trades under the ticker SEG.AX on the Australian Securities Exchange.
The shift in ownership prospects alters the strategic landscape for MediaWorks.
A potential acquisition by News Corp would consolidate significant audio assets under the Murdoch umbrella, potentially reshaping advertising dynamics and content distribution across the region.
For investors, the exit of Stuff removes a competitor that may have offered a different operational approach, while a News Corp takeover suggests a focus on scale and cross-platform integration.