THE boss of ad baron John Singleton’s Macquarie Radio has claimed the media company’s $200 million merger with Fairfax Media’s radio business remains on track, despite a shock profit warning. Macquarie executive chairman Russell Tate dismissed suggestions Fairfax was seeking to change the terms of the deal after Macquarie warned it expected a 65 per cent fall in half-year profit partly due to the cost of a new multi-million dollar contract for the nation’s top-rated broadcaster Alan Jones.“I’ve informed Fairfax and there hasn’t been any concern,” Mr Tate told The Australian. “I don’t expect there will be any issues.”
