Radio Kerry to buy Clare FM and Tipp FM
A major move.
Local radio station Radio Kerry is set to branch out even further, announcing on Wednesday morning that it has acquired other Munster radio stations Clare FM and Tipp FM.
In a statement published this morning, it was confirmed that the Board of Radio Kerry had approved an offer to shareholders of Clare Community Radio Holdings Ltd to purchase the entire share capital of Clare FM, as well as Clare FM's controlling interest in Tipp FM.
Clare FM are recommending approval of the sale to their shareholders.
The statement notes that the stations have collaborated in the past, working together on industry bodies such as the IBI, IRS and Learning Waves.
Liam O'Shea, who is the MD of Clare FM and Tipp FM has spoken favourably of the deal, saying: "The counties share the same pride of place, love of sports, music and culture. The reality of the modern media environment is that in order to secure their business future, I strongly believe that radio stations must consider shared costs and consolidation with other similar companies."
Radio Kerry already owns Shannonside/Northern Sound Radio after an acquisition in 2005.
The sale will be subject to shareholder and regulatory approval in the early stages of 2019.