Member Article

Bauer Media announce Absolute Radio acquisition

The owner of Key 103, Radio City and Radio Aire has announced the acquisition of Absolute Radio from Times of India.

Bauer Media UK said the terms of the deal were agreed with the seller, and are subject to regulatory clearance.

Although an acquisition figure was not put out with the deal announcement, Absolute Radio is thought to be worth around £22m.

Paul Keenan, chief executive of Bauer Media UK, said: “We are looking forward to working with the award-winning team at Absolute Radio and have great respect for what it has achieved.

“We are excited about welcoming this complementary music radio business with renowned digital assets into Bauer.”

Donnach O’Driscoll, chief executive, Absolute Radio, said: “The Absolute Radio business has never been in better shape as we approach our fifth birthday.

“Bauer Media UK is a business that really cares about building famous media and entertainment brands and music radio in particular. This brand will continue to thrive as part of the Bauer group.”

Mr Keenan added: “Absolute Radio and its sister brands are loved by millions of UK consumers and by advertisers. This acquisition will be an opportunity to learn and share across both businesses.”

This was posted in Bdaily's Members' News section by Miranda Dobson .