Irish telecoms billionaire Denis O’Brien is to become a significant player in the UK radio market, sealing a deal to buy eight stations from Global Radio in a deal thought to be worth £35m.
O’Brien’s media company Communicorp, which runs 40 radio stations across eight countries including Ireland, has picked up the stations that Global Radio has been forced to sell off by competition regulators following its £70m acquisition of GMG Radio.
Communicorp has been approved by the Competition Commission as a “suitable owner” of the stations, although the company still requires regulatory approval in its home market Ireland.
Rest the full story at Denis O’Brien to buy eight Global Radio stations | Media | theguardian.com.
