BUZZ-Australia's Nine surges on pivot to digital growth, radio asset divestment

Reuters

Jan 30

** Shares of Nine Entertainment Group NEC.AX rise as much as 4.6% to A$1.14, hitting their highest since January 20

** Stock logs largest intraday pct gain since September 12, 2025, putting it among the top gainers on the broader benchmark .AXJO

** Diversified media firm to buy outdoor advertising group QMS Media for enterprise value of A$850 million ($599.00 million)

** Co to also divest its radio assets for A$56 million

** Says combined transactions, including restructuring of regional NBN TV unit, would unlock about A$217 million in cash proceeds, tax benefits

** Stock up 2.9% YTD, including the day's moves

($1 = 1.4190 Australian dollars)

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com))

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