Global Radio is understood to be on the verge of selling eight of its Midlands stations to Bauer Media in a deal worth £30 million.
Global said last August that it would be selling the stations to quell fears expressed by the Office of Fair Trading over its £375 million takeover of GCap Media.
Bauer Media emerged as the preferred bidder for the eight stations – BRMB, Mercia FM, Beacon FM, Wyvern, Gold Birmingham, Gold Coventry, Gold Wolverhampton and 106FM Heart East Midlands – earlier this month.
The bidding process had seen former Chrysalis Radio CEO Phil Riley and Midlands radio entrepreneur Mike Owen attempt to buy the stations.
