John Singleton’s Macquarie radio merger tunes in with 50 staff sackings

The $200 million merger between John Singleton’s Macquarie Radio and Fairfax Radio began yesterday with news 50 staff will be axed.

Russell Tate Executive Chairman of Macquarie Radio.

The $200 million merger between John Singleton’s Macquarie Radio
and Fairfax Radio began yesterday with news that 50 staff members will be sacked.

The chairman of the merged entity, Russell Tate, told staff in a confidential briefing about 30 redundancies would be handed down in Sydney.

Staff were told 11 would come from newsrooms, as Macquarie’s 2GB and Fairfax’s 2UE will begin broadcasting the same news bulletins.

The other positions to be made redundant will come from the sales and administrative areas.

The 50 redundancies nationally are believed to represent about a 15 per cent cut across the combined new workforce. Mr Tate told the staff the redundancies would be forced rather than voluntary, sources said.

Jack Singleton and Russell Tate.

When contacted late yesterday, Mr Tate said he did not want to outline specifics until all staff had been addressed.

“Our first priority is to remove uncertainty among the staff and clarify everyone’s position,’’ he said.

Under the terms of the deal, Macquarie Radio shareholders, including Mr Singleton with 71.15 per cent, hold 45.5 per cent of the new entity, with Fairfax owning the remaining 54.5 per cent.

The merger brings 2GB’s top rating morning broadcasters Alan Jones and Ray Hadley into the same stable as Melbourne’s strong performer at 3AW Neil Mitchell.

Macquarie shares closed flat at $1.10 after the news.