Ulster Television (UTV) has acquired the entire issued share capital of City Broadcasting, the operator of Lite FM, a radio station based in Dublin, the group announced this morning. UTV will pay €14.0 million (£9.0 million) for the business and will also assume liability for Lite FM’s €1.3 million debt.
Lite FM is the most listened to Dublin radio station and targets the 35+ population. UTV already holds interests in County Media in Cork and Treaty in Limerick and sees the acquisition of Lite FM in Dublin as a further step in building its presence across all of Ireland.
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