Bauer Media Audio said it plans to acquire Communicorp Group, pending regulatory approval.
“Through this transaction Bauer Media Audio enters the Republic of Ireland and extends its audio business to eight countries, further developing its position as Europe’s leading commercial radio operator with more than 55 million weekly listeners,” the organization stated in the announcement.
It said Communicorp is Ireland’s largest commercial radio group with a weekly audience of 1.75 million.
“The group comprises of Ireland’s only two national commercial radio stations Today FM and Newstalk, alongside local stations Spin 1038 and 98FM in Dublin, and Spin Southwest in Limerick, as well as leading digital radio sport station Off The Ball, digital audio exchange audioXI and aggregated listening platform GoLoud.”
The announcement was made by Paul Keenan, president of Bauer Media Audio, and Communicorp Chairperson Lucy Gaffney.
The Irish Times reports the sale is “understood to be for more than 100 million Euros.” It quoted Communicorp’s billionaire owner Denis O’Brien saying his decision was influenced by changing listening habits of consumers.
But in the announcement, Paul Keenan cited radio’s popularity in Ireland and said. Communicorp’s radio stations “are reaching record listening highs.”
Bauer Media Audio has broadcast radio, online services and podcasts also serving the UK, Sweden, Norway, Denmark, Finland, Poland and Slovakia. Its brands include KISS, Mix Megapol, Absolute Radio, Radio Norge, Radio Expres, Radio Nova, Radio 100 and RMF.
