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Smooth Radio sold as part of regional deal
1:14pm Thursday 6th February 2014 in News
EIGHT regional radio stations, including one in the North-East, with more than 2.5 million listeners were today sold as part of changes that will signal the end of the Real brand.
Heart and Classic FM owner Global Radio is to sell Smooth in the North-East and North-West, Real Radio stations in North Wales, Yorkshire and Manchester and Capital in Scotland and South Wales in order to meet competition concerns following its takeover of Guardian Media Groups radio assets in 2012.
The company is allowing the buyer, Irish radio broadcaster Communicorp, to rebrand the Real stations under the Heart franchise, while the other Real radio stations which are remaining within Global are adopting the same name.
Communicorp, which will become the UKs fourth largest commercial radio group, will also have licences for the Capital and Smooth stations, with the two Smooth outlets benefiting from the reintroduction of local programming.
Todays deal, which is believed to be worth around 30m, comes after the Competition Commission identified seven areas where Globals 2012 takeover of Real and Smooth could lead to higher advertising prices.
Global said the Capital network will also be enhanced with a new station in North Wales, taking Capitals weekly reach to 7.7 million, while it plans to grow Smooth to become the fourth largest radio brand in the UK, behind Capital, Heart and Classic FM, with 4.3 million listeners a week.
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