Bauer Media has announced that it has completed its acquisition of Denis O’Brien’s Communicorp and from today, June 1st, it has assumed control of the radio business.
Bauer has not disclosed the amount it paid to acquire Communicorp although industry sources estimate the sale price was in the region of €110m.
Communicorp is Ireland’s largest commercial radio group with a weekly audience across its stations of 1.75m people. Stations within the portfolio include Today FM, Newstalk, Spin 1038, Spin Southwest and 98FM. Other assets within the business include Off The Ball, digital audio exchange audioXI and the aggregated listening platform Go Loud.
According to Paul Keenan, president of Bauer Media Audio: “Bauer Media Audio is excited to be entering the Republic of Ireland through the acquisition of such a premium business, with its market leading and trusted brands. Its talented teams have built a strong reputation for high quality news, entertainment, music and sport, and from this solid foundation we are passionate about the world of radio and look forward to further exploring the audio universe.”
Baurer Media is a leading player in the European commercial radio sector and its stations reach over 57m listeners weekly in countries like the UK, Ireland, Sweden, Norway, Denmark, Finland, Poland and Slovakia. Stations within its portfolio include KISS, Mix Megapol, Absolute Radio, Magic Radio, Radio Norge, Radio Expres, Radio Nova, Radio 100 and RMF.