Clear Channel Rules Out Hostile UK Radio Bids
US radio group, Clear Channel, is believed to have ruled out acquiring UK radio assets through hostile bids.
The Financial Times reports that Roger Parry, the chief executive of Clear Channel International, claimed that the group would only be interested in buying a UK radio operator if it was confident it could combine it with another. He commented: “We are not hostile bidders, we are friendly acquirers, therefore the first step would be talks with potential targets and as yet no talks have taken place.”
The liberalisation of the radio sector, which was confirmed by Culture Secretary, Tessa Jowell, last week (see Government Confirms Relaxation Of Radio Ownership Rules), is widely expected to increase mergers and acquisitions movement in the UK radio market. Following lobbying from commercial radio groups the Government amended the proposals it set out in the draft Communications Bill (see Draft Communications Bill Relaxes Cross Media Rules), which required at least three commercial stations, plus the BBC in each region. The Bill now proposes just two commercial stations, plus the BBC in each area.
Clear Channel, which is the world’s largest radio group, was widely expected to bid for Capital Radio and Emap’s radio interests. The group expressed its interest in UK radio assets earlier this year (see
US Radio Group Could Move On UK Commercial Stations
Earlier this year at the Guardian Edinburgh International TV Festival, Anne Sweeney, president of Disney Channel Worldwide and ABC Cable Networks, ruled out the possibility of Disney acquiring UK broadcasting assets in the near future (see GEITF 2002: Disney Rules Out UK Broadcasting Acquisitions).
Clear Channel: 0207 478 2928 www.clearchannel.co.uk
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