09/04/2002
Further expansion for UTV into Republic of Ireland
Television and Internet company, UTV has announced the acquisition of Limerick-based Treaty Radio Limited.
Treaty Radio, which operates Live95FM, an independent radio station in Limerick, cost the Belfast-based broadcaster in the region of £10 million.
Since its launch in 1997, Live95FM has quickly become an established player in the local radio market with a 38 per cent share of listeners in the area.
In addition, following recent Broadcasting Commission of Ireland (BCI) approval, UTV also announced the completion of the remaining 40 per cent of County Media in Cork which it bought in 2001 for £13.8m.
John McCann, Managing Director, UTV said: "We are absolutely delighted to announce our proposed acquisition of Treaty Radio. This is an important strategic move for UTV, which together with 96FM and 103FM radio stations in Cork; our television and internet interests, and our recent acquisition of 50% of Bocom International, further strengthens our multi-media offering throughout Ireland.
"We believe Treaty Radio represents a significant growth opportunity for the UTV Group and look forward to working with the existing management team to build upon the excellent local service they provide for the people of Limerick.
"We are also delighted to announce our move to 100 per cent ownership of County Media. As a well resourced indigenous media group, UTV is committed to the development of the Irish broadcasting market. Our strategy is to further develop the UTV group as a broad media player."
Live95FM has close to 90,000 listeners in the Limerick region and has consistently built up its share of listeners since it commenced broadcasting in 1997.
(MB)
Treaty Radio, which operates Live95FM, an independent radio station in Limerick, cost the Belfast-based broadcaster in the region of £10 million.
Since its launch in 1997, Live95FM has quickly become an established player in the local radio market with a 38 per cent share of listeners in the area.
In addition, following recent Broadcasting Commission of Ireland (BCI) approval, UTV also announced the completion of the remaining 40 per cent of County Media in Cork which it bought in 2001 for £13.8m.
John McCann, Managing Director, UTV said: "We are absolutely delighted to announce our proposed acquisition of Treaty Radio. This is an important strategic move for UTV, which together with 96FM and 103FM radio stations in Cork; our television and internet interests, and our recent acquisition of 50% of Bocom International, further strengthens our multi-media offering throughout Ireland.
"We believe Treaty Radio represents a significant growth opportunity for the UTV Group and look forward to working with the existing management team to build upon the excellent local service they provide for the people of Limerick.
"We are also delighted to announce our move to 100 per cent ownership of County Media. As a well resourced indigenous media group, UTV is committed to the development of the Irish broadcasting market. Our strategy is to further develop the UTV group as a broad media player."
Live95FM has close to 90,000 listeners in the Limerick region and has consistently built up its share of listeners since it commenced broadcasting in 1997.
(MB)
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