UTV in talks to buy FM104
UTV Radio is in exclusive talks with Communicorp Group to purchase Dublin's FM104 for around 50 million euros – according to a report in the Irish Times today. If Communicorp dispose of FM 104, it will leave the company free to purchase three stations from Emap, including national Today FM.
The new talks follow the withdrawal of a joint bid by Vienna Investments.
FM104 would be an ideal fit for UTV Radio as they already own five radio stations across Ireland including Q102 in Dublin.
Communicorp owns 42 radio stations across 8 countries. A bid to take-over three Emap stations earlier this year was blocked by the BCI because Denis O'Brien's group already owns 98FM and Spin 103.8 in the area.