Irish Times agrees sale of Waterford-based radio station Beat 102-103
Media Irish Shareholder Of The A Radio Became 2018 In Group Own Station Its The In Acquisition 75% After Landmark Times
The Irish Times Group has announced that German-owned Bauer Media Audio has agreed to buy its share of the Waterford-based radio station Beat 102-103.
The Irish Times became a 75% shareholder in the radio station in 2018 as part of its own acquisition of Landmark Media Group which also owned the Irish Examiner and the Evening Echo.
A Share Purchase Agreement has been signed between the two companies with the acquisition subject to regulatory approval.
Beat 102-103 is the most-listened to radio station among the 15-34 age group in Carlow, Kilkenny, Waterford, Wexford and South Tipperary with 158,000 people tuning in every week.
Bauer Media Group owns a number of national and local radio stations including Today FM, Newstalk 98FM, and Spin 1038. It acquired Red FM in Cork last year which was part-owned by the Irish Times.
With this latest acquisition, Bauer Media will extend its total weekly reach in Ireland to 2.24 million listeners.
Irish Times Group managing director and chair of Beat Deirdre Veldon said: “Over the last 20 years, Beat 102-103 has been hugely successful in targeting and attracting listeners amongst the 15-34 age group, becoming the most popular station for that audience in the south east.
“This success is thanks to the focus, commitment, and creativity of the Beat team. We’re confident that Beat and its staff will have a bright future as a valued part of the dynamic Bauer Media Group.”
Interim chief executive of Bauer Media Audio Ireland Chris Doyle said they are delighted to have the station join their network.
“This provides advertisers and partners with access to a quality station with an engaged audience in the South East,” he said.