UTV to buy LMFM in €9.5m deal

UTV is to buy North East local radio station, LMFM, for €9.5m in a further expansion of its all Ireland broadcasting base.

Sources said this could be the last deal by UTV into the radio sector for some time.

New ownership rules detailed by the Broadcasting Commission of Ireland (BCI) recently, restricts players in the market to a maximum 17.9% share of all licensed radio services.