Pacific Star Network Limited (ASX:PNW) signed an agreement to acquire Radio 2CH Pty Ltd. for AUD 13.2 million on June 5, 2020. The consideration will be paid in cash and stock. Pacific Star Network Limited will pay AUD 6.6 million in cash on completion and AUD 4.6 million over eight quarterly installments. Pacific Star Network Limited will also issue 10 million shares as consideration. In related transactions, Pacific Star Network Limited is in negotiations to acquire a few more licenses and has received an offer from ACE Radio Broadcasters to acquire 1377AM Melbourne radio broadcasting license. The cash consideration will be paid from Pacific Star Network Limited’s existing cash reserves and available debt facilities. The transaction is expected to be completed on July 1, 2020. The license is expected to deliver an incrementally positive yet immaterial contribution to earnings in the following 12 months. Pacific Star Network Limited (ASX:PNW) completed the acquisition of Radio 2CH Pty Ltd. on July 1, 2020.