SAGA stations sold to GMG Radio
GMG Radio has conditionally acquired all the radio assets of the SAGA group for an undisclosed sum. The news comes just months after GMG bought Century Radio and now gives the company 12 analogue radio stations across the UK, three of which are based in Glasgow.
GMG will launch a new service in the Northeast, which Saga won the licence for in April, and re-brand services in Glasgow, Nottingham and Birmingham.
Saga announced in September they were looking at conducting an auction of its radio business.
Carolyn McCall, Chief Executive of Guardian Media Group plc, said: “This further expansion of our radio division will help to ensure the continued success and growth of GMG. The addition of these stations to the portfolio gives GMG Radio real scale and confirms its status as a major player in the UK radio market.”
John Myers, Chief Executive of GMG Radio, added: “These are four good stations that fit well within our group and with dual housing and re-branding we can deliver powerful synergies.
“Furthermore, our format change in London will allow us to develop a near-national brand aimed at an older demographic. Alongside this, we expect that our successful Century and Real Radio stations and the launch of our new North East station in 2007 will ensure that GMG becomes the third largest radio group in total hours by the end of next year with a broad appeal to all adults over 25.
“It is our intention to re-brand the Saga stations in due course, to a name yet to be announced.”