It was founded in 1980 by Paul Thompson, and operated 16 radio stations in metropolitan and regional Australia under the Today Network and Triple M brands.

SAFM commenced transmission in September 1980, with the Austereo Network established in 1986 following the company's acquisition of Fox FM Melbourne.

[4] In March 1997 Austereo's managing director, Mr Peter Harvie, announced the network would be entering a joint venture with ARN to effectively amalgamate FM104.7 and Mix 106 in Canberra.

[5] At the time, Harvie stated that the deal was peculiar to the Canberra market and the company had 'no intention' of implementing similar ventures in other capitals.

[8] The bid was approved by the Australian Competition & Consumer Commission on 18 March[9] and formally accepted by Village Roadshow later that month.