Bauer Media Audio has announced the completion of its acquisition of Media Capital Rádios in Portugal.
This acquisition marks Bauer Media Audio’s entrance into the Portuguese market, expanding its existing audio business into nine countries.
Media Capital Rádios has a weekly reach of over 4.5 million listeners, and will become known as Bauer Media Audio Portugal.
The Group operates Radio Comercial, M80, Cidade FM, Smooth FM and Vodafone FM.
Richard Dawkins, President of Audio, Bauer Media Group, says: “We have tremendous admiration and respect for the quality of the brands we have acquired and truly believe in the potential of Media Capital Rádios – now trading as Bauer Media Audio Portugal – and the Portuguese Radio market in general, today and in the future.
“Radio played such a vital role throughout the pandemic and we expect it to remain highly valued by listeners and advertisers going forward, who value it for its trust, flexibility and effectiveness.”
“We are now looking forward to getting to know and learning from our new colleagues, gaining a deeper understanding of the market and the needs of our listeners and advertisers. We place the highest priority on growing a healthy core business, with strong brands delivering high quality entertainment, information and companionship to listeners and trusted, quality solutions to commercial partners.
“We are passionate about the world of radio and are excited about the opportunities ahead as we further explore the wider universe of digital audio.”
For Mário Ferreira, Chairman of Grupo Media Capital: “This was a very timely deal that will make us all stronger. Media Capital Radios (MCR) is a solid business area, with well-established results and undisputed leadership. The sale of MCR is in line with the Group’s strategy of accelerating the development of the audiovisual and digital production areas, and also consolidating the trajectory of recovery in the television segment.”