Global Radio sale: Who is Communicorp?
Communicorp has suddenly become one of the biggest radio groups in the UK after buying seven regional radio stations and one local from Global Radio.
The group is owned by Irish Billionaire Denis O’Brien who set up the company in 1989 at the start of independent radio in Ireland. Communicorp owns 19 radio stations in eight European countries, including Ireland’s national stations Today FM and Newstalk.
In 2004 Communicorp acquired the Metromedia radio group adding presence in Bulgaria, Estonia, Finland and Hungary. In late 2008 Communicorp launched its first stations outside of Europe with that of SPIN Jordan and Ayyam FM in Jordan to complement Spin 1038 in Dublin and Spin South West.
He later bought Today FM, FM 104 and Highland Radio from Emap but only kept hold of Today FM due to a competition authority decision.
According to the Sunday Independent’s Rich List 2012, O’Brien has made himself a fortune of €3.0 billion.
The company is Chaired by Lucy Gaffney who is also a founding director in the phone company Digicel and its CEO is Gervaise Slowey.
Communicorp’s radio division has over 3.5 million listeners per week covering many formats from Hot AC to Chart/Dance, from News to Country.
Now Mark Lee joins the company as CEO for the UK division, after running Real and Smooth Ltd for the past 20 months. Mark will oversee Heart in North Wales and Yorkshire, Smooth in the North West, North East and East Midlands, and Capital in South Wales and Scotland.
Communicorp’s Group Programme Director Liam Thompson recently left Dublin to take up the position of Content Director for Bauer Media’s Magic 105.4 in London.