Absolute Radio sold to Bauer Media UK in £22m deal

 

Absolute Radio has been snapped up by the owner of rival stations Kiss and Magic in a £22 million deal.

The deal, which is subject to approval by the Office of Fair Trading, will see Absolute join the stable of stations controlled by Bauer Media UK.

The German-owned firm also owns regional stations including Key 103 in Manchester and Metro Radio in Newcastle as well as publishing magazines such as Grazia, Heat and Closer.

It is the latest chapter in the colourful history of Absolute Radio, which started life as upstart Virgin Radio and was once owned by presenter Chris Evans.

The name was changed to Absolute in 2008 under the latest owners, the Times of India group. DJs at the station include comedian Frank Skinner and former footballer Ian Wright.

Absolute has a number of spin-off stations featuring music from different decades. Latest quarterly figures showed Absolute Radio reached 1.7 million listeners. The station said the whole network had 3.3 million listeners.

A spokesman said there were no plans for job cuts. He described previous reports that Absolute would be rebranded Planet Rock as speculation.

Paul Keenan, chief executive of Bauer Media UK, said: "We are looking forward to working with the award-winning team at Absolute Radio and have great respect for what it has achieved.

"Absolute Radio and its sister brands are loved by millions of UK consumers and by advertisers."

Donnach O'Driscoll, chief executive of Absolute, said: "The Absolute Radio business has never been in better shape as we approach our fifth birthday.

"Bauer Media UK is a business that really cares about building famous media and entertainment brands and music radio in particular. This brand will continue to thrive as part of the Bauer group."

PA

Start your day with The Independent, sign up for daily news emails
Have you tried new the Independent Digital Edition apps?
ebooks
ebooksA celebration of British elections
  • Get to the point
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Media

Guru Careers: Recruitment Resourcer / Recruitment Account Manager

£20 - 25k + Bonus: Guru Careers: Are you a Recruitment Consultant looking to m...

SThree: Trainee Recruitment Consultant - Dublin (based in London)

£20000 - £25000 per annum + commission: SThree: Real Staffing's Pharmaceutical...

Guru Careers: Business Analyst / Digital Business Analyst

£50 - 60k (DOE): Guru Careers: We are seeking a Business Analyst / Digital Bus...

Guru Careers: Business Development Manager / Sales

£30 - 40k (£65k Y1 OTE Uncapped): Guru Careers: We are seeking a Business Deve...

Day In a Page

General Election 2015: Ed Miliband's unlikely journey from hapless geek to heart-throb

Miliband's unlikely journey from hapless geek to heart-throb

He was meant to be Labour's biggest handicap - but has become almost an asset
General Election 2015: A guide to the smaller parties, from the the National Health Action Party to the Church of the Militant Elvis Party

On the margins

From Militant Elvis to Women's Equality: a guide to the underdogs standing in the election
Amr Darrag: Ex-Muslim Brotherhood minister in exile still believes Egypt's military regime can be replaced with 'moderate' Islamic rule

'This is the battle of young Egypt for the future of our country'

Ex-Muslim Brotherhood minister Amr Darrag still believes the opposition can rid Egypt of its military regime and replace it with 'moderate' Islamic rule, he tells Robert Fisk
Why patients must rely less on doctors: Improving our own health is the 'blockbuster drug of the century'

Why patients must rely less on doctors

Improving our own health is the 'blockbuster drug of the century'
Sarah Lucas is the perfect artist to represent Britain at the Venice Biennale

Flesh in Venice

Sarah Lucas has filled the British pavilion at the Venice Biennale with slinky cats and casts of her female friends' private parts. It makes you proud to be a woman, says Karen Wright
11 best anti-ageing day creams

11 best anti-ageing day creams

Slow down the ageing process with one of these high-performance, hardworking anti-agers
Juventus 2 Real Madrid 1: Five things we learnt, including Iker Casillas is past it and Carlos Tevez remains effective

Juventus vs Real Madrid

Five things we learnt from the Italian's Champions League first leg win over the Spanish giants
Ashes 2015: Test series looks a lost cause for England... whoever takes over as ECB director of cricket

Ashes series looks a lost cause for England...

Whoever takes over as ECB director of cricket, says Stephen Brenkley
Fishing for votes with Nigel Farage: The Ukip leader shows how he can work an audience as he casts his line to the disaffected of Grimsby

Fishing is on Nigel Farage's mind

Ukip leader casts a line to the disaffected
Who is bombing whom in the Middle East? It's amazing they don't all hit each other

Who is bombing whom in the Middle East?

Robert Fisk untangles the countries and factions
China's influence on fashion: At the top of the game both creatively and commercially

China's influence on fashion

At the top of the game both creatively and commercially
Lord O’Donnell: Former cabinet secretary on the election and life away from the levers of power

The man known as GOD has a reputation for getting the job done

Lord O'Donnell's three principles of rule
Rainbow shades: It's all bright on the night

Rainbow shades

It's all bright on the night
'It was first time I had ever tasted chocolate. I kept a piece, and when Amsterdam was liberated, I gave it to the first Allied soldier I saw'

Bread from heaven

Dutch survivors thank RAF for World War II drop that saved millions
Britain will be 'run for the wealthy and powerful' if Tories retain power - Labour

How 'the Axe' helped Labour

UK will be 'run for the wealthy and powerful' if Tories retain power