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Radioworks Acquires Queenstown Radio Station

MEDIA RELEASE

For Immediate Release

Thursday 16 February 2006

Radioworks Acquires Queenstown Radio Station

RadioWorks, a CanWest MediaWorks Company, is to conditionally acquire the Queenstown based radio station Q92FM.

The purchase includes six frequencies, covering Queenstown, the Wakatipu Basin and Central Otago.

“Q92 is a popular station in the region, and this acquisition complements our existing presence in an increasingly important market,” said RadioWorks Chief Operating Officer, Sussan Turner.

“Central Otago is a growing region and the tourism sector, particularly in Queenstown and Wanaka, is an attractive market for us to target for advertising revenue,” Ms Turner said.

RadioWorks is acquiring the station from its founders Chas and Stephanie Drader, who launched the station 20 years ago.

The purchase will be effective 1 March 2006 and is for an undisclosed sum.

Decisions regarding the staff structure and branding of the station will be made in due course.

ENDS

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