Macquarie Media said it hopes to buy more radio assets rather than sell them off as new media laws are introduced next year.

The broadcast media group executive chairman Tim Hughes said the company’s Macquarie Regional Radioworks (MRR) may expand in the near future.

Mr Hughes laughed off suggestions MRR would sell off some of its 85 commercial radio licenses in Australia.

“That is just speculation,” Mr Hughes said after the company’s annual general meeting.

“Macquarie Regional Radioworks is probably the best performing asset in this country in terms of return on sales,” he said adding that the business has high earnings before interest tax depreciation and amortisation (EBITDA).

“It has high EBITDA margin, it has got great growth prospects and we actually think that the outcome of the recent changes might give us the opportunity to actually extend our reach in regional radio, not get out of it.”

MRR reported EBITDA 30.3 per cent growth in 2005/06 to $55 million compared to last year, while sales revenue grew 15.2 per cent.

Mr Hughes also said MRR was in talks with a number of media companies including WIN TV over possible acquisitions.

“We are talking to everyone,” he said.

Mr Hughes dismissed ideas that MRR may consider an all out tilt at John Fairfax Holdings saying the newspaper publisher was “a bit big.”