Member Article

Real Radio Yorkshire amongst 8 stations acquired by Irish conglomerate

Dublin-based Communicorp Group Ltd, today announced the proposed acquisition of eight regional radio stations from Global Radio, in the UK including Real Radio Yorkshire.

Smooth East Midlands, Smooth North West, Smooth North East, Capital Scotland, Capital South Wales, Real Radio North Wales, Real Radio Yorkshire and Real XS, are set to become part of Communicorp’s international portfolio.

As a result of the deal all existing Real stations will be re-launched as Heart,which will bring them to an estimated 9.3 million listeners a week.

All stations required to be divested by the CC are being sold in one deal.

The sale is taking place under the supervision of the UK’s Competition Commission and Communicorp has been approved by the Competition Commission as a suitable owner of the divested stations.

The sale is also subject to the approval of the Competition Authority in Ireland as a media merger.

Under an innovative brand licensing agreement, Communicorp intends to re-brand the ‘Real’ stations under the ‘Heart’ franchise and plans to re-launch the ‘Smooth’ stations following the reintroduction of local programming.

Communicorp Chief Executive, Gervaise Slowey, said: “We have been looking at the UK market for some time now and we are delighted to be adding these radio stations to the Communicorp Group.

“Each of these stations has a strong and loyal following and this move will make Communicorp the fourth largest commercial radio group, in the UK.”

On completion of the transaction, Communicorp intends to retain the experienced management team of Real & Smooth Limited. Mark Lee will remain CEO and continue to lead the business.

Also speaking today, Lucy Gaffney, Communicorp Chairperson, said: “This acquisition will bring the total number of radio stations, under the Communicorp umbrella, to 27.

“It further reinforces Communicorp’s position as an international market leader in the commercial radio industry – with a strong presence in Ireland, Bulgaria, Latvia, Jordan and now, the UK.

Stephen Miron, Global’s Group CEO said: “We are delighted to have agreed this deal with Communicorp so quickly.

“The future launch of Heart in five new regions, Smooth in many new regions and a new Capital in North Wales is particularly exciting and enables us to continue our strategy of ‘national brands delivered locally.’ This is great news for listeners and advertisers.”

This was posted in Bdaily's Members' News section by Clare Burnett .