Irish Times Group sells WLR stake to the Daily Mail

For the Daily Mail, it is the group's first venture into radio.

The Daily Mail Group has agreed to acquire The Irish Times' 75% shareholding in Waterford-based radio station WLR FM. 

The Share Purchase Agreement was signed yesterday and the acquisition is now subject to regulatory approval. As part of the new structure, WLR Director Des Whelan will continue as a part-owner, retaining his 25% share.