FM104 sold to UTV Radio
Communicorp has sold Dublin's FM104 to UTV Radio for £37.1million. The sale leaves Communicorp free to purchase three stations from Emap – including national network Today FM. The sale is conditional on the approval of the Competition Authority, the Broadcasting Commission of Ireland and of the UTV shareholders in a general meeting.
John McCann, Chief Executive of UTV Media said: “I am absolutely delighted to announce this acquisition of FM104. Together with Q102 in Dublin and our stations in Cork, Limerick, Dundalk/Drogheda and Belfast, this acquisition enables our multimedia offering throughout Ireland to take a significant step forward and firmly reflects UTV Media’s strategy of creating a diversified media business in the UK and Ireland. FM104 is the market leader in Dublin and we look forward to developing this position within UTV.”