Group led by Clare FM director buys 55% stake in Kildare radio station

A GROUP of investors led by Clare FM managingdirector Liam O’Shea yesterday confirmed a deal to purchase a majority stake in radio station Kfm – the licensed local radio service for Kildare.

The purchase of a 55% shareholding in the station arises from a decision by a number of Kfm shareholders to realise the value of their shareholding in order to pursue other business interests. Industry sources said the deal placed a value of more than €7 million on the Kildare radio station.

The board of the Broadcasting Commission of Ireland (BCI) yesterday approved the deal.