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Denis O'Brien’s Communicorp to buy Today FM, FM104 and Highland Radio

Communicorp, owned by Irish businessman Denis O’Brien, is to buy Today FM, FM104 and Highland Radio.

An RTE.ie news report states that it is understood €200m was paid for the stations formally held by the UK media group Emap.

Communicorp already own Dublin stations Spin and 98 FM, and the national talk station Newstalk. Today FM is also national, while Highland is based in the North West. 

As Adam Maguire points out, the combined Dublin market share of combined stations may now cause problems for the company with the Broadcasting Commission of Ireland and the Competition Authority.

The Irish Times is also reporting (subs reqd) that the Competition Authority will now investigate if the company can hold both  Newstalk and Today FM.

The company also owns Spin South West which is currently on a test signal and is due to launch to serve Clare, Limerick, Kerry, and parts of counties Tipperary, and Laois.

Communicorp now owns over 40 radio stations on Europe.

Meanwhile, while in the move Emap disposes of its Irish stations, it will still have a strong presence on newsagents’ shelves. The firm's magazine portfolio include Arena, closer Empire, FHM, Grazia, heat, Mojo, Q, Top Sante, Yours, and Zoo.

Emap confirms it is to sell Irish stations

Emap has confirmed it is looking to sell its radio station in Ireland, as reported by Reuters.co.uk and Finfacts.com.

The UK media company’s Irish stations, Today FM, FM 104, and Highland Radio, are profitable, however Emap are trading tough and looking to sell the station off in a consolidation move.

The Sunday Business Post has more information on the radio stations, while Adam Maguire has comment and analyses.