Bauer Media acquires ten regional radio stations amid competition probe
Bauer Media has snapped up a further ten regional radio stations as it faces a competition probe into its spate of acquisitions earlier in the year.
The media giant today said it has bought UKRD Group, which owns stations across Yorkshire, East Anglia, the south and the south west of England.
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The deal, which is Bauer’s fourth acquisition this year, will add an additional 722,000 weekly listeners to its growing portfolio.
Paul Keenan, chief executive of Bauer Media UK and European radio, said: “These stations are an excellent addition to our business and further extend our reach into completely new areas of the UK.”
“This further demonstrates our long-term commitment and belief in commercial radio which has never been so exciting – for both listeners and advertisers.”
But the deal comes as the Competition and Markets Authority (CMA) said it has launched investigations into Bauer’s three acquisitions earlier this year.
As a result, Bauer must continue to operate its new subsidiaries as independent businesses until the probe is completed.
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A spokesperson for Bauer said: “The CMA has made some preliminary inquiries into our acquisitions of Lincs FM Group, Celador and Wireless local radio stations in England and Wales.
“As part of this, it has asked us to ‘hold separate’ and run on a standalone basis the acquired local stations. This is a standard procedural step taken by the CMA when it makes inquiries about completed mergers. Bauer is cooperating fully with the CMA.”