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Trade Me hosts record-breaking radio frequency auction as NZME and MediaWorks splash out millions

In the digital age, the buying of radio frequencies seems almost archaic. The internet means that any major radio brand can now be accessed across the nation. And yet, in the recent Radio Spectrum auction, NZME broke a record by paying $7.4 million to retain the frequency it currently uses for Newstalk ZB in Christchurch. And while slightly more frugal than its competitor, MediaWorks Radio also pulled out the chequebook to pay $2.5 million for a frequency used for Mai FM in Waikato and $2 million for a frequency that will host George FM in Wellington. StopPress chats to MediaWorks group content director Leon Wratt and NZME Radio managing director Dean Buchanan to find out if it’s still worth paying that much for radio frequencies.