FM104 takeover in competition probe

The €26m acquisition by Scottish Radio Holdings of one of the major players on the crowded Dublin radio scene, FM104, has been put on hold.

The Competition Authority in the Republic is seeking further information from the parties on the deal to enable it to assess whether competition in the capital’s radio market could be weakened by the merger.

Of particular significance to the authority is Scottish Radio Holdings’ ownership of the national station, Today FM, which also enjoys considerable popularity in Dublin.

The authority’s investigation could last for three months.

Scottish Radio Holdings said it would co-operate fully with the Competition Authority. It said in a statement: “SRH and the sellers will be assisting the authority fully and will seek to address any concerns arising in the course of its investigation.” The approval of the minister for enterprise, trade and employment is also required for media mergers.

By Des Cryan in Dublin

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