Bauer Media Audio has today announced it has entered into an agreement to acquire Communicorp Group subject only to regulatory approval.
The group comprises of Ireland’s only two national commercial radio stations Today FM and Newstalk, alongside local stations Spin 1038 and 98FM in Dublin, and Spin Southwest in Limerick, as well as leading digital radio sport station Off The Ball, digital audio exchange audioXI and aggregated listening platform GoLoud.
Claims it was sold for "north of €100million"….when only made profit of €1.6 million last year, implying new owners paid 62 times earnings for a faltering asset? Seriously?? 🤔https://t.co/5VuUmfxy6H
— David McWilliams (@davidmcw) February 25, 2021
And so ends Denis O'Brien's decades as one of the world's worst media tycoons. He has lost many hundreds of millions…created a small talk radio station and a few small pop stations in one small country. Otherwise he has overpaid repeatedly and invested badly.
— Tom Lyons (@TomLyonsBiz) February 25, 2021