One of Britain's largest media groups, Emap, may shortly acquire several Irish radio stations and newspapers via a takeover of Scottish Radio Holdings (SRH).
British reports suggest that Emap will shortly launch a bid for Glasgow-based SRH, which is now a major player in the Irish media market. Emap already owns 27.8 per cent of SRH and analysts believe it could purchase the remainder shortly.
The deal should appeal to Emap, analysts suggest, because there is no geographical overlap between its stations and those owned by SRH.
Emap's activities are mainly confined to radio and magazines and, if the takeover goes ahead, it is unlikely to want SRH's newspaper holdings.
Emap is not involved in the Irish radio market at present, although its magazines are sold here and they accept some Irish advertising.
SRH, led by chief executive Mr Richard Findlay, has been buying Irish media assets over the past four years. It is understood its radio interests in the Republic make up 15 per cent of group revenues. Earlier this year, it purchased FM 104 for over €30 million. The beneficiaries were various private Irish shareholders.
SRH owns the following newspapers in Ireland: the Kilkenny People; the Nationalist & Munster Advertiser; the Tipperary Star; the Leitrim Observer; and the Longford Leader. It also owns two radio stations in the Republic, FM 104 and Today FM. It owns Cool FM and Downtown Radio in Northern Ireland.
Additional reporting - Guardian Service
