Communicorp Group, one of Ireland’s largest media organizations which owns national commercial radio stations Today FM and Newstalk along with independent local stations, 98FM and Spin 1038 has been sold to German media company, Bauer Media Audio the companies announced on Thursday.
The announcement brings to an end businessman Denis O’Brien’s 30 plus years of media ownership in Ireland.
Speaking about the news, Communicorp Chairperson Lucy Gaffney said:
“Communicorp has been at the forefront of Ireland’s media industry for over 30 years and this agreement marks the culmination of an exciting and dynamic journey, which has enhanced and transformed radio in Ireland. Hundreds of incredibly talented and special people, both in front of and behind the mic, have made that journey possible and I want to thank them for their enormous contribution to the company. I also want to thank our advertisers, our stakeholders and especially our listeners, for their support and loyalty over many years. Finally, on behalf of the Board, I wish Bauer and everyone at Communicorp continued success for the future.”Lucy Gaffney Chairperson of Communicorp Media