Bauer Media buys Absolute Radio for £22m
Posted by
Bauer Media buys Absolute Radio for £22m

Bauer Media UK has agreed with Times of India to acquire the Absolute Radio business, subject to regulatory clearance for around £22m.

It follows months of speculation about Absolute Radio being for sale, and Bauer being the reported buyer.

Absolute Radio has been around for five years, after Times of India bought Virgin Radio for £53m in 2008 and spent another £15k rebranding it.

Paul Keenan, CEO, Bauer Media UK, said: “We are looking forward to working with the award-winning team at Absolute Radio and have great respect for what it has achieved. We are excited about welcoming this complementary music radio business with renowned digital assets into Bauer. Absolute Radio and its sister brands are loved by millions of UK consumers and by advertisers. This acquisition will be an opportunity to learn and share across both businesses.”

Donnach O’Driscoll, CEO, Absolute Radio, said: “The Absolute Radio business has never been in better shape as we approach our fifth birthday. Bauer Media UK is a business that really cares about building famous media and entertainment brands and music radio in particular. This brand will continue to thrive as part of the Bauer group

Earlier this year Bauer Media purchased Planet Rock and proceeded to close down Kerrang! Radio’s building in Birmingham and replace the output with Planet Rock from London.

Former Absolute Radio COO said Absolute Radio will thrive under its new owners.

Hear more radio industry news like this at the top of the hour on inRadio - the radio industry's very own radio station. Listen now in a new window whilst you continue reading RadioToday or press play below.

0 17 2584 29 July, 2013 Industry News 10:34 am 20137 Monday, July 29th, 2013

Leave a Reply

Looking for something else?

Register

Subscribe to our emails to stay informed about the latest radio news and products delivered straight to your inbox.

Related Posts

The Imaging Days - October 3, 2016 at 8:00 am (Holland)
The Imaging Days - October 4, 2016 at 8:00 am (Holland)
Radiodays Ireland - October 17, 2016 at 10:00 am (Dublin)
Radiodays Ireland - October 18, 2016 at 10:00 am (Dublin)
ARIAS - Audio and Radio Industry Awards - October 19, 2016 at 6:00 pm (First Direct Arena, Leeds)
WorldDAB General Assembly 2016 - November 9, 2016 at 10:00 am ()
Audio Production Awards - November 24, 2016 at 6:00 pm (BFI Southbank, Belvedere Road, London)
Radio TechCon 2016 - November 28, 2016 at 10:00 am (The Arts Theatre, 6-7 Great Newport St, London WC2H 7JB)
More events