Radio executives Sean Ashmore and Clem Ryan have taken over the majority shareholding in Kildare’s local radio station Kfm.
Clem is CEO of the station and presenter of the daily talk show ‘Kildare Today’ each weekday morning.
Sean, who is CEO of Classic Hits and a Director of Spirit, also holds shares in Sunshine and East Coast FM.
Both Clem and Sean are founding members of the station which launched in 2004. Clem Ryan how has 48%, Sean Ashmore has 48% and Chairperson Anna May McHugh has 4%.
The purchase of a further 40% shareholding in the station arises from a decision by a number of exiting Kfm shareholders – among them David Mongey (MD Mongey Communications, Naas) and Liam Ross of the golf buggy supply company The Buggyma to realise the value of their shareholding in order to pursue their core business interests.
Clem Ryan says this latest opportunity represented an unmissable opportunity for himself and Ashmore to consolidate their shareholding in the company: “Kfm’s presence in the vibrant Greater Dublin Commuter Belt makes it one of the most attractive investment opportunities in this sector of the Irish media today.
“This investment is a great vote of confidence in Kfm, combined with the business expertise of Kfm company chairperson Anna May McHugh, Managing Director of the National Ploughing Championships, which makes for a dynamic operation. We are looking forward to building on our station’s success long into the future.”
The shareholding purchase was completed this week and has the prior approval of the Broadcasting Authority of Ireland.
Kfm broadcasts on 97.6fm and 97.3fm to all parts of county Kildare 24 hours a day from Naas, Co. Kildare.