Regional radio stations' shuffle in buy out
By Hull Daily Mail | Posted: 6 Feb 2019
The company which owns a string of regional commercial radio stations has been bought by national media giant Bauer.
The Lincs FM Group, which also runs Compass FM, KCFM and Ridings FM, joins fellow media company Celador Radio to be bought for an undisclosed fee.
The news follows the successful national launches of Bauer’s Hits Radio in June 2018, Greatest Hits Radio in January and the announcement of the launch of Scala Radio arriving this March. It also owns Viking FM.
Paul Keenan, CEO at Bauer Media UK, said : “The UK’s love of radio shows no signs of diminishing and we are investing to extend our reach and broaden our offer.
“Radio enjoyed record revenues last year and continues to exceed advertiser expectations, offering proven positive brand impact within an uncertain landscape.“
Lincs FM has been bought for an undisclosed fee by Bauer Media (Getty Images)
The Celador and Lincs FM Group stations add 1.1m weekly listeners to the Bauer portfolio, and extends its coverage of the UK.
News of the acquisition also follows previous successful acquisitions such as Jazz FM, Orion Media and Nordic broadcaster SBS Discovery.
However, in a twist, Hull station KCFM will be sold to Nation Radio, due to Bauer already owning Viking Radio in the region.
Mr Keenan said: “Bauer’s strong position on new listening platforms - with more than 60% of our listening now digital – will help secure the future of the acquired stations in the new audio world.
“Through this investment Bauer Media is demonstrating its fundamental belief in the UK, one of its key markets, which it is certain will continue to offer great opportunities for growth and economic success and in the continuing relevance of radio as a medium."