Emap Radio sale approved
The sale of Emap Radio to German publishing company H Bauer has been approved. At today's General Meeting, 98 per cent of Emap shareholders authorised the disposal of the groups 38 radio stations which includes London's commercial market leader Magic 105.4.
Bauer were confirmed as new owners of Emap's radio division in December, when it was revealed a final offer of 422 million pounds was accepted for the stations.
Based on annual retail sales value, H Bauer is one of the top three consumer magazine publishing companies in the UK. Emap's portfolio of stations will not be the company's only radio asset. Bauer took over RMF FM end of 2006, a national radio network with a 22.3 per cent daily share and the undisputed market leader in Poland.