Melbourne radio station MTR shuts down

Melbourne talkback radio station MTR has gone off the air.

Melbourne Talk Radio (MTR 1377) stopped broadcasting at 5pm on Friday after its owners put the joint-venture company Melbourne Radio Operations Pty Ltd into administration.

Macquarie Radio Network and joint-venture partner Pacific Star Network Ltd announced the move in a one-line statement to the Australian Stock Exchange.

MTR has struggled in the ratings since it hit the airwaves in April 2010 and was never able to challenge the dominance of Fairfax Radio's talkback station 3AW.

It managed a 1.4 per cent audience share in the latest Melbourne radio survey, released last week, compared to 3AW's top spot of 12.8 per cent and ABC774's 12.3 per cent.

Macquarie Radio pulled funding from the joint venture on Thursday, issuing a notice of default under its working capital loan agreement and saying it would not provide any further funding to MTR.

The station's high-profile presenters included Steve Price and Steve Vizard.

Drive host Luke Grant had the task of signing off, thanking listeners for their support.

"I wish we were here for longer but we are not.

"As we always say, thank you for listening, and maybe we will meet some other day down the line."

Newsreader Amie Meehan, in Sydney, attempted to deliver a final news bulletin.

"Okay, I'm really sorry, I thought that I was still doing one last bulletin.

"Okay, no worries at all. I'm so sorry. I know you guys have worked your butts off, and no matter, whatever the ratings were, one way or the other doesn't change the way you do your day.

"So I'm really sorry. No worries, bye bye."

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