Today FM and Newstalk owner Communicorp Group is set to be acquired by Bauer Media Audio subject to regulatory approval.
Denis O’Brien’s radio group, which also runs SPIN 1038, SPIN South West and 98FM, would put the stations under the same ownership as Downtown Radio and Cool FM in Northern Ireland.
Off The Ball, digital audio exchange audioXI and aggregated listening platform GoLoud is also included in the sale along with the online stations.
Communicorp UK, which runs brands under franchise from Global, is not part of the deal.
Today FM was previously bought by Scottish Radio Holdings in 2002, which was sold to Emap (Bauer) in 2005 and sold to Communicorp in 2007.
#WATCH Businessman Denis O’Brien is to sell his radio group Communicorp, which includes stations like Today FM and Newstalk, to European firm Bauer Media Audio@PaulQuinnNews has the details⤵️#VMNews | @TomLyonsBiz pic.twitter.com/wo7KwEhMG8
— Virgin Media News (@VirginMediaNews) February 25, 2021
Paul Keenan, President of Bauer Media Audio comments, “Radio is very popular in Ireland with more than 80% of the population tuning in every week. The industry makes a vital and much-valued contribution to the country’s rich cultural landscape.
“Communicorp’s award-winning radio stations are reaching record listening highs, and the combination of these highly valued audiences offered alongside fast growing and innovative digital brands means they are well positioned to capitalise on the future development potential of the wider world of audio.
“This offers more choice for listeners alongside enhanced, targeted solutions for advertisers. We are very much looking forward to working with Communicorp CEO Simon Myciunka and his talented team.”
Commenting on the announcement, Communicorp Chairperson, Lucy Gaffney, said: “Communicorp has been at the forefront of Ireland’s media industry for over 30 years and this agreement marks the culmination of an exciting and dynamic journey, which has enhanced and transformed radio in Ireland.
“Hundreds of incredibly talented and special people, both in front of and behind the mic, have made that journey possible and I want to thank them for their enormous contribution to the company. I also want to thank our advertisers, our stakeholders and especially our listeners, for their support and loyalty over many years.
“Finally, on behalf of the Board, I wish Bauer and everyone at Communicorp continued success for the future.”