O’Brien radio firm seals Ukraine deal

DENIS O’Brien’s radio firm Communicorp Group has bought two radio stations in the Ukraine.

Communicorp said yesterday that it has completed the purchase of Radio Apelsin, which is based in the Ukrainian capital Kiev, and has agreed to buy Nashe Radio, the largest commercial network in the country.

Nashe Radio reaches nearly a third of Ukraine’s 47 million people and broadcasts a mix of Ukrainian pop and rock music aimed at 25-45 year-olds.

Communicorp said the Ukrainian advertising market is expected to grow at rates well above the average rates of growth in Europe, and the country’s business risk continues to diminish as Ukraine moves towards becoming a competitive market economy, with growing economic and political ties to the EU.

Communicorp said these acquisitions are the latest in its long-term strategy to become one of the leading radio operators in Europe.

“The radio stations we are acquiring have an excellent technical infrastructure, strong market positions and good local management. We will assist these stations to grow further by providing to local management support from our international programming and advertising sales resources,” the company said in a statement.

“Both stations have programming formats that are compatible with Communicorp’s radio interests elsewhere in Europe, and we are confident there will be significant synergies and exchange of ideas between the two Ukrainian stations and our other 31 radio stations.”

In Ireland, Communicorp (whose directors also include PD TD Liz Donnell) owns East Coast Radio and Dublin’s 98FM, Spin FM and Newstalk 106.

The company did not say how much it paid for the acquisitions, but it is likely to be a multi-million figure. Communicorp operates radio stations in Czech Republic, Hungary, Finland, Estonia and Bulgaria.