McEvaddy tunes into E10m with FM104 sell-off

BUSINESSMAN Ulick McEvaddy will net nearly E10 million from the sale of Dublin radio station FM104 to Scottish Radio Holdings, the owner of Today FM.

Mr McEvaddy, the co-founder of aircraft leasing firm Omega Air, yesterday sold his 38% of FM104 for E26 million in cash and shares.

SRH will also assume the station’s debt, bringing the total value of the takeover to more than E30m. Around 45% of the deal will be financed through the issue of SRH shares, with the rest paid in cash.