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19/12/2007

UTV Buys Top Dublin Station

UTV has bought market-leading Dublin radio station FM104 for £37 million.
FM104 - one of the most listened to radio stations in the city – is one of three that Irish radio group Communicorp bought from Emap this year but was forced to sell it as it restricted competition.
The acquisition will significantly enhance UTV’s presence in the critical and highly competitive Dublin radio market and represents a further significant step in the implementation of UTV’s stated strategy of building a network of leading radio stations in Ireland’s key urban areas.
UTV’s broadcast resume includes radio stations in Cork, Limerick, Drogheda and Belfast, as well as Q102 in Dublin.
John McCann, Chief Executive of UTV Media said: “I am absolutely delighted to announce this acquisition of FM104. Together with Q102 in Dublin and our stations in Cork, Limerick, Dundalk/Drogheda and Belfast, this acquisition enables our multimedia offering throughout Ireland to take a significant step forward and firmly reflects UTV Media’s strategy of creating a diversified media business in the UK and Ireland."
UTV will launch two new stations in the UK next year, including a national digital station, Talk Radio, on the second national commercial digital multiplex headed by Channel 4; and an FM station in the Preston area.
UTV will invest about £4m in the two launches over the next two years.
(DS)
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