Nine and ACE Radio Network have signed an option for ACE Radio to operate Nine's music radio stations, 2UE in Sydney, 4BH in Brisbane, and Magic1278 in Melbourne. If completed, the deal would allow ACE Radio to operate the three stations from early 2022, adding to their existing network of 18 stations across regional Victoria and New South Wales.

Tom Malone, Nine’s Managing Director (Radio), said the deal was a win for both Nine and ACE Radio.

"This agreement with ACE Radio gives them the option to lease these music stations, opening a footprint in the metro radio market while at the same time freeing up Nine Radio to focus on our core strategy of talk radio.”

Mark Taylor, CEO of ACE Radio, said: “Stations like 2UE don’t become available every day. It was a particularly important part of our plans. The brand has a significant heritage in Sydney. And while we want to build on that, we also want to deliver something new and exciting to its audience.”

ACE Radio is expected to spend the coming months developing logistical and sales infrastructure to allow them to exercise the option in early 2022.