Talk Radio Buys IRG

After a month of speculation (see Independent Radio Group In Bid Rumours), Talk Radio has confirmed it is to acquire Independent Radio Group, the local radio operator which owns regional stations including Scot FM. The Wireless Group, which owns Talk, has agreed to buy the business for £21.4 million.

The acquisition will make The Wireless Group the fourth biggest private sector radio group in Britain. It is run by former Sun editor Kelvin McKenzie who commented on the offer saying: “The board of directors of the Wireless Group believes that the offer represents excellent value for IRG shareholders as well as good news for its employees and listeners.”

IRG’s six radio licenses will be integrated within The Wireless Group’s national network, creating further consolidation within the radio industry as a whole. The chairman of IRG, John Bateson, said: “Since its formation in 1995, IRG has been successful in pursuing its strategy of acquiring existing radio stations and winning new licences. The radio industry has for some time been consolidating into larger groups. We are pleased to have reached agreement with the directors of The Wireless Group on the offer which enables IRG to take advantage of this consolidation.”

Talk Radio: 0171 636 1089 Independent Radio Group: 01942 777666