Global Radio is in exclusive talks with Bauer Media to sell BRMB, Mercia, Wyvern, Beacon Radio and their AM counterparts, according to a report in the Sunday Times.
The sales of the stations, which is required by the Office of Fair Trading to satisfy competition concerns, was [link=http://radiotoday.co.uk/news.php?extend.4098]expected[/link] by the end of 2008 but there has been very little news.
If the deal goes ahead, it would no doubt mean the FM stations would join Bauer's Big City network, whilst the AM stations could be rebranded as Magic.
There were thoughts to be at least five bids being submitted in the second round, including one from an international private equity group. Former Chrysalis boss Phil Riley was reported to be front runner. Former programme controller and operations director of BRMB Mike Owen was also [link=http://radiotoday.co.uk/news.php?extend.3735]interested[/link] in purchasing the stations.
The newspaper [link=http://business.timesonline.co.uk/tol/business/industry_sectors/retailing/article6036264.ece]reports[/link] the sale could be complete before the end of April, for up to £40m. It is not known if the deal would include the franchise to run Heart 106.
Global Radio is also expected to announce a deal to sell their stake in the only national DAB multiplex to Arqiva.