Newstalk owner acquires Cork's Red FM

Red FM is Cork's most popular radio station with more than 129,000 listeners. Its roster of broadcasters includes Neil Prendeville, Philip Bourke and Dave Mac’s Drive. Picture: Denis Minihane.

Bauer Media Audio, the owner of Newstalk and TodayFM radio stations has entered a deal to acquire one of the country's biggest regional stations, Cork's Red FM.

The German media giant acquired the Communicorp radio group in February of last year in a deal understood to be worth over €100m which marked the end of Denis O’Brien’s involvement in the Irish media market.

In a statement today, Bauer said the addition of Red FM would extend its total weekly reach to almost 1.9 million listeners. Bauer in Ireland also operates Dublin's 98FM and Spin.

The acquisition will be subject to regulatory approval by the competition authority. Financial details of the acquisition have not been disclosed.

Red FM is Cork's most popular radio station with more than 129,000 listeners. Its roster of broadcasters includes Neil Prendeville, Philip Bourke and Dave Mac’s Drive. 

Vienna Investments Ltd owned by Pearse Farrell and Bernadette Keogh is the majority shareholder in Red FM. The Irish Times Group is also a part-owner having acquired a stake through its acquisition of the Irish Examiner and other titles in 2018.

Simon Myciunka, CEO of Bauer Media Audio Ireland said: “Cork’s Red FM is a much-loved station, and it’s a fantastic addition to the business. Together, we can ensure that it continues to provide the music, entertainment and great local news and information that listeners value, allowing it to thrive even more in future”.

Diarmuid O'Leary, CEO of Red FM paid tribute to the staff at the radio station, who he said have been central to their success over the last 20 years. 

"Red FM is now ready to embark on a new chapter, and I’m sure that as a valued part of Bauer Media Audio, the station will continue to soar to even greater heights," he said.