ONE MORE THING:WITH THE sale of Highland Radio in full swing by Denis O'Brien's Communicorp, Donegal Creameries has emerged as a potential, and curious, bidder for the station.
It is understood that the dairy and agri group has expressed an interest in Highland, which is believed to have a price tag of between €10 million and €11 million.
Listed on the IEX junior market in Dublin, Donegal Creameries has an eclectic mix of businesses, including dairy, potato seeds, mushrooms, sweets and about 40 retail agri stores.
It also has a property division, with sites in Donegal, Sligo and the UK, and owns the 3,000-acre An Grianán estate, near the Border with Derry.
A move into radio would mark a significant step away from its traditional business.
Then again, commercial radio in Ireland has long attracted a diverse mix of local backers, including the GAA, arms of the Catholic Church, publicans and farmers.
It is not clear if Donegal Creameries is on a solo run or if it is teaming up with other groups.
A number of parties are believed to have expressed an interest in the Donegal station, but it is understood that Highland boss Charlie Collins, himself a former owner, will not be leading a management bid.
Highland's sale process kicked off in January. The price tag looks tasty - the station was sold for about €7 million in 2005.
Highland's total revenue was expected to hit €2.6 million in the year to the end of March, which would be 9 per cent up on the previous year. Earnings before interest, tax and amortisation were projected to be €921,000. This is forecast to grow to €1.1 million by 2010.
These are blue-sky projections that could be met. But with its market share already at 61.5 per cent (how much higher can it go?) and a tightening economy, it remains to be seen if anyone will pony up €10 million or more.
