Emap latest: Global responds
Radio owners Global Radio have reacted to Emap's sale of all business assets to German media company H Bauer, describing the decision as "understandable if disappointing". Radio Today also understands that GCap had made an offer to Emap for Kerrang! 105.2.
German magazine publisher H Bauer were confirmed as new owners of Emap last night. An official announcement came this morning, which revealed a final offer of £1.14bn being accepted for Emap's consumer magazines and radio stations.
There had been interest in purchasing individual stations and the radio divsion as a whole, from several UK groups including Global, operators of LBC, Heart and Galaxy.
Ashley Tabor, CEO of Global Radio commented: “Emap’s strategic decision to proceed with a single bid for radio and consumer mags together, is understandable if disappointing for radio specific bidders in the process."
"Global Radio is committed to the future and long term consolidation of the UK radio industry.”
Radio Today also understands GCap to have approached Emap with a individual bid for Birmingham's Kerrang! 105.2, with the aim of further growing the XFM brand outside London.
Emap will not be the Bauer's only radio asset. Bauer took over RMF FM end of 2006, a national radio network with a 22.3% daily share and the undisputed market leader in Poland.