Saga For Guardian Media Group

Guardian Media Group has increased its portfolio of radio stations after conditionally acquiring Saga Radio and its digital assets from Saga Group for an undisclosed sum.

GMG now owns 12 major FM stations, including its own Real and Smooth networks, and the Century FM stations in the North West and North East, which it acquired from GCap Media for £60 million in October this year (see GCap Sells Radio Stations To Guardian Media Group).

Saga Radio has three services in the Midlands, Glasgow and a new station that will launch in the North East of England next year. The services, which are a mix of music, talk and news currently broadcast to 900,000 listeners.

GMG Radio’s existing portfolio consists of Real Radio, Smooth FM, Century, 96.3 Rock, Jazzfm.com, Real Radio on DAB and Sky Digital, Smooth FM on DAB, Sky Digital and Freeview and Century FM on DAB.

Recently, Ofcom agreed to Smooth FM changing its format to target the over-50s after successfully lobbying the communications regulator (see Smooth FM Format Change Gets Ofcom Go-Ahead).

“Our format change in London will allow us to develop a near-national brand aimed at an older demographic,” said John Myers, chief executive of GMG Radio.

“Alongside this, we expect that our successful Century and Real Radio stations and the launch of our new North East station in 2007 will ensure that GMG becomes the third-largest radio group in total hours by the end of next year with a broad appeal to all adults over 25.”

GMG Radio: 0113 307 1400 www.gmgradio.co.uk