Denis O’Brien’s radio company Communicorp to be sold to UK media group for undisclosed amount
Denis O’Brien’s Communicorp – the radio company comprising Newstalk, Off The Ball and Today FM – has accepted a sale to an international media group for an undisclosed amount.
British giant Bauer Media Audio will acquire the decades-old media company subject to regulatory approval.
The move will see the British giant – which describes itself as Europe’s leading commercial radio operator, with more than 55 million listeners every week – seize Communicorp’s vast portfolio.
The Republic of Ireland is the eighth country in which the organization has now expanded its reach, adding to a portfolio comprising KISS, Radio Nova and Radio 100.
Communicorp operates a suite of radio stations, as well as an extensive digital radio offering.
His other titles include Spin 1038, Spin Southwest, and 98FM.
In a statement, Communicorp President Lucy Gaffney said the deal marks “the culmination of an exciting and dynamic journey, which has improved and transformed radio in Ireland”.
She added: âHundreds of incredibly talented and special people, both in front of and behind the microphone, made this trip possible and I want to thank them for their tremendous contribution to the company.
âI would also like to thank our advertisers, our stakeholders and especially our listeners, for their support and loyalty over many years.
“Finally, on behalf of the Board of Directors, I wish Bauer and everyone at Communicorp continued success for the future.”
Bauer Media Chairman Paul Keenan added: âRadio is very popular in Ireland with over 80% of the population listening every week.
âThe industry makes a vital and much-appreciated contribution to the country’s rich cultural landscape.
âCommunicorp’s award-winning radio stations are reaching record listening levels, and the combination of these highly regarded audiences offered alongside fast-growing and innovative digital brands means they are well positioned to capitalize on future development potential. the larger world of audio.
âThis provides more choices for listeners as well as improved and targeted solutions for advertisers. We look forward to working with Communicorp CEO Simon Myciunka and his talented team. “