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15/11/2001
Scottish Radio Holdings snap up Ireland’s Today FM station
A major Scottish media group, which controls two Ulster radio stations and a local newspaper group, have become the majority stakeholder in Ireland’s Today FM radio station.
Scottish Radio Holdings (SRH) paid £36.4 million to become the major holder in the station and follows its acquisition of Southampton-based Wave 105 earlier this month.
The Group, which owns Cool FM and Downtown Radio as well as Portadown-based Morton Newspaper Group, bought up the remaining 76 per cent stake of the station in the move.
Commenting on the acquisition, SRH Chief Executive Richard Findlay, said: “I am delighted that we have reached agreement with our fellow shareholders in Today FM. The station has become an important part of the broadcasting landscape in Ireland and is a strong success story. I am grateful in particular to John McColgan, who has been the Chairman of the Company since its inception, and who has accepted our invitation to stay on as Chairman of the Board subject to all regulatory approvals being obtained. Despite being only four years old, Today FM will become the second largest radio station within the SRH group by reference to turnover.” (MB)
Scottish Radio Holdings (SRH) paid £36.4 million to become the major holder in the station and follows its acquisition of Southampton-based Wave 105 earlier this month.
The Group, which owns Cool FM and Downtown Radio as well as Portadown-based Morton Newspaper Group, bought up the remaining 76 per cent stake of the station in the move.
Commenting on the acquisition, SRH Chief Executive Richard Findlay, said: “I am delighted that we have reached agreement with our fellow shareholders in Today FM. The station has become an important part of the broadcasting landscape in Ireland and is a strong success story. I am grateful in particular to John McColgan, who has been the Chairman of the Company since its inception, and who has accepted our invitation to stay on as Chairman of the Board subject to all regulatory approvals being obtained. Despite being only four years old, Today FM will become the second largest radio station within the SRH group by reference to turnover.” (MB)
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