Five parties bid for Global’s Midlands stations

At least five parties have entered the second round of bidding for Global Radio’s Midland stations.

The first round of bids for the five Midlands stations ranged from around £30 million to £40 million, according to reports.

A number of consortiums are thought to be interested in purchasing the stations, including one led by the former Chrysalis Radio chief executive Phil Riley, Bauer and an overseas private equity group.

Another consortium, with BRMB controller Mike Owen, is said to be keen to buy the four west Midlands stations – BRMB, Mercia, Wyvern and Beacon.

In August, Global radio offered to sell its Midlands stations, including Heart 106 in the east Midlands, to appease the Office of Fair Trading (see Global Offers To Sell Off Midlands Stations).

The OFT expressed concerns over competition in the Midlands area following Global’s £375 million acquisition of GCap Media in April this year (see Global Radio To Acquire GCap For £375m).

Global Radio: www.thisisglobal.com/radio