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| Emap to sell its Irish radio stations |
| Written by Business Weekly | |
| Tuesday, 27 March 2007 | |
|
Peterborough-based media group Emap said it is considering the sale of its Irish radio stations, valued at around £100m in a trading update, in which it said that it expects “difficult” trading conditions in consumer media markets to continue over the next year.
The firm owns three radio stations in Ireland, TodayFM, FM104 and Highland Radio, which may be targets for sale as the company focuses on its more “robust” markets, such as business to business information products and events. Ahead of its full year results, due in May, the firm said in a statement: “We regularly review assets within our portfolio and against this background we are considering our options in relation to our Republic of Ireland radio stations.” Shares in Emap grew by almost three per cent following the announcement, rising 17.5p to 757p, valuing the company at around £1.63bn. |
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