Three offers for GMG Radio, say reports
Global Radio, UTV Media and a group of venture capitalists are reported to have made offers for Real Radio and Smooth Radio operator GMG Radio.
A report in The Guardian – part of the same group as GMG Radio – suggests Global’s offer, thought to be around £50m, is the largest of the three bids.
The paper says GMG Radio has spent more than £200m on acquisitions and in the year to last March valued its assets at £118.9m. It also says GMG has never officially put its radio division up for sale, though RadioToday.co.uk is aware of much industry speculation surrounding a possible sale of the group over the last two years.
Global Radio already handles national sales for GMG Radio’s portfolio and in areas like South Wales, Central Scotland, Yorkshire, the North East and North West would be able to add a Heart station on FM in regions where it already operates a Capital FM station. There would, however, be some competition issues in North Wales where Global already operates licences under the Heart brand – and in London, the Midlands and the North West and North East if the biggest commercial radio group also bought GMG Radio’s regional FM Smooth Radio licences.
Read more on the story in MediaGuardian here.