View all newsletters
Sign up for our free email newsletters

Fighting for quality news media in the digital age.

  1. News
June 13, 2012

Report: Guardian Media Group receives £50m offer for radio business

By admin

Guardian Media Group has received an offer of around £50m for its radio business, which includes the Real Radio and Smooth Radio networks, according to a report in The Guardian.

A story on its website said GMG had ‘built up the UK’s third largest radio group with acquisitions totalling in excess of £200m’but was ‘not thought to have officially raised the ‘for sale’ sign over GMG Radio”.

The company was said to have received three offers for the business with highest totalling around £50m – despite the fact that according GMG’s balance sheet its radio business assets were valued at £118.9m.

The report added:

The most likely trade buyers to have submitted bids are Global Radio, the parent company of brands including Capital, Heart and Classic FM, and Talksport-owner UTV Media. It is understood that a third bid has come from an venture capital firm that aims to bring in its own management if its bid is successful.

Bauer Radio, which owns stations including Kiss and Magic, is not thought to be in the running.

Content from our partners
MHP Group's 30 To Watch awards for young journalists open for entries
How PA Media is helping newspapers make the digital transition
Publishing on the open web is broken, how generative AI could help fix it

Global Radio, the largest commercial radio operator in the UK, has the most financial clout and is thought to have submitted the largest offer.

Email pged@pressgazette.co.uk to point out mistakes, provide story tips or send in a letter for publication on our "Letters Page" blog

Select and enter your email address Weekly insight into the big strategic issues affecting the future of the news industry. Essential reading for media leaders every Thursday. Your morning brew of news about the world of news from Press Gazette and elsewhere in the media. Sent at around 10am UK time. Our weekly does of strategic insight about the future of news media aimed at US readers. A fortnightly update from the front-line of news and advertising. Aimed at marketers and those involved in the advertising industry.
  • Business owner/co-owner
  • CEO
  • COO
  • CFO
  • CTO
  • Chairperson
  • Non-Exec Director
  • Other C-Suite
  • Managing Director
  • President/Partner
  • Senior Executive/SVP or Corporate VP or equivalent
  • Director or equivalent
  • Group or Senior Manager
  • Head of Department/Function
  • Manager
  • Non-manager
  • Retired
  • Other
Visit our privacy Policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
Thank you

Thanks for subscribing.

Websites in our network