Bauer Media Audio Ireland is to acquire iRadio, the leading youth music station serving listeners spanning the North East, Midlands and North West. The acquisition is subject to certain closing conditions and final approval of the CCP and ultimately, the Minister for Media, Catherine Martin.
No details of the acquisition price have been published although iRadio has assets of just over €11m.
Once complete, the deal will mean Bauer Media stations in Ireland will have almost 1.9 million weekly listeners.
First set up in 2008, iRadio is one of Ireland’s leading youth music brands, being the most listened to station in the 15 to 44 demographic across its 15 broadcast counties.
Shareholders in iRadio include Telegael CEO Paul Cummins, former RTÉ commercial director Willie O’Reilly, accountant Gabby Smyth and printing company Print & Display. The largest shareholder, however, is Galway businessman John Mannion, through his ownership of Highcross Communications and Wilton Radio.
According to Chris Doyle, Interim CEO, Bauer Media Audio Ireland: “iRadio is a high-quality business and we’re looking very forward to welcoming it to Bauer. Together, we’ll be able to ensure that the station can provide even more of the great content, music and entertainment that its audiences love.”,
Willie O’Reilly, Chairman at iRadio adds: “iRadio has grown to become the most popular radio station in its broadcast region keeping listeners across its fifteen counties informed and entertained. The board would like to thank everyone who has been a part of this journey for their contribution. iRadio is now ready to embark on a new chapter as part of Bauer Media Audio. Its best days lie ahead.”
