Global acquires GMG Radio for £50m
June 25, 2012
Guardian Media Group has sold its radio business, which includes the Real Radio and Smooth Radio networks, to Global Radio for an estimated price of £50 million.
GMG, which has built up the UK’s third-largest radio group over the past 13 years, signed the deal with Global Radio after receiving a number of offers for the GMG Radio unit.
It is reported that the offer tabled by Global – the parent company of brands including Capital, Heart and Classic FM – was in the region of £50 million and was by some distance the most attractive offer.