Nine sells radio stations including 2GB and 3AW to Sydney pub baron Arthur Laundy

Media company also buys digital advertising billboard company QMS for $850m

The nation's biggest media company, Nine Entertainment, has sold its talkback radio stations to a Sydney pub baron for $56m and bought outdoor advertising company QMS Media for $850m, in a major upheaval for Australia's media landscape.

Nine Radio, which owns 2GB, 3AW, 4BC, 6PR, 2UE, Magic1278 and 4BH, has been offloaded as talk radio profits dwindle and the audience skews ever older.