Speculation was mounting today that Ulster TV could be preparing a £300m (€439.7m) move for the media group SMG, which owns Grampian and Scottish TV, Virgin Radio and the Pearl & Dean advertising business.

Scottish Radio Holdings, which owns FM 104 and Today FM, said its group operating profit for the six months to the end of March was up 14% to £10.9m (€16m).

Dublin: The takeover of Dublin local music station FM104 cleared its final hurdle yesterday when the Minister for Enterprise, Trade and Employment confirmed she had decided not to raise any concerns over the transaction.

TODAY FM owner Scottish Radio Holdings’s Irish businesses are not performing as well as its British assets, where full year sales are expected to rise 18% for the full year.

Recordings of stars such as U2 and Rod Stewart unearthed from radio archives are to be released for the first time in a multi-million pound record deal announced today.

SCOTTISH Radio Holdings (SRH) still have strong designs on the Irish market, despite incurring sharp overall losses last year.