Global Radio submits £50m offer for GMG Radio

Reports suggest that 95.8 Capital Radio owner Global Radio has submitted a £50 million bid for the Guardian Media Group’s radio business, which includes Real Radio and Smooth Radio.

It is understood that three offers have been made for GMG’s radio operation, which is thought to be worth around £119 million.

GMG Radio is not officially for sale but it has been reported that Global Radio is likely to win any bidding contest, as is the largest commercial radio operator in the UK with the Capital, Heart and Classic FM brands.

Global already handles the national advertising contract for GMG enabling them to make cost savings.

GMG Radio was valued at £118.9 million in its most recent set of accounts, filed in March last year.