Irish Examiner View: Communicorp sale should end petty veto

Denis O'Brien's radio group sold to UK-based Bauer Media Audio

Denis O'Brien who has sold Communicorp to UK-based Bauer Media Audio for a figure understood to be north of €100m. Picture: Fran Veale

Less than two years ago Independent News and Media were sold to Belgian group Mediahuis for €145.6m. The acquisition of Irish media platforms by foreign companies continued yesterday when Communicorp, the radio group controlled by Denis O’Brien, once a 29% shareholder in INM, was sold to UK-based Bauer Media Audio for a figure understood to be north of €100m.

The deal, which is subject to regulatory approval, was not unexpected as 2016 efforts to sell Newstalk to INM, when Mr O'Brien was still a 29% shareholder in INM ran into the sand when INM executives disagreed over the station's valuation.