Bauer Media Audio has agreed to acquire Cork’s Red FM.
The company, which already owns Bauer Media Audio Ireland (BMAI), will add the station to a portfolio that already includes Newstalk, Today FM, 98FM and Spin.
The deal further cements BMAI as Ireland’s leading commercial radio and audio operator.
Red FM is one of Ireland’s most popular regional radio stations and the acquisition will bring BMAI’s weekly listenership to 1.9 million.
BMAI Chief Executive Simon Myciunka said the deal will ensure Red FM can “thrive even more into the future”.
“As a firm believer in the power of sound, Bauer Media Audio is committed to growing the radio and audio sector through investment and innovation,” he said.
“Cork’s Red FM is a much-loved station and it’s a fantastic addition to the business.
“Together, we can ensure that it continues to provide the music, entertainment and great local news and information that listeners value, allowing it to thrive even more in future.”
Red FM is Cork’s most popular station with more than 129,000 daily listeners tuning in to favourites like The Neil Prendeville Show, More Music with Philip Bourke and Dave Mac’s Drive
BMAI is committed to ensuring that Red FM continues to grow and develop, providing investment and innovation to create an even better listener experience for the people of Cork.
RED FM Chief Diarmuid O’Leary said: “Over the past two decades, Cork’s Red FM has grown to become one of the region’s most popular radio stations, informing and entertaining listeners across the city and county.
“I’d like to thank everyone who has been a part of this journey for their contribution, in particular the staff at the radio station, who have been central to our success over the last 20 years.
“Red FM is now ready to embark on a new chapter, and I’m sure that, as a valued part of Bauer Media Audio, the station will continue to soar to even greater heights.”
Since the company entered the Irish market BMAI has enabled the growth of Ireland’s audio and radio sector, leading on innovation and excellence for listeners and commercial partners alike.
Under the company’s leadership, Today FM, Newstalk and SPIN have all increased their audience listenership, while being recognised at the annual IMRO Radio Awards for their successes.
BMAI has also invested to launch the GoLoud podcast network, home to some of Ireland’s most listened-to podcasts, and invested in audioXi – Ireland’s Largest Digital Audio exchange.
The deal is subject to regulatory approval.