Full regulatory clearance has been given to Bauer Media Audio for its acquisition of Communicorp Group.
The approval follow’s Bauer’s purchase of Communicorp earlier this year and extends its business operations to eight countries.
It is anticipated that the acquisition will complete on May 31st, 2021.
Paul Keenan, President of Audio told RadioToday: “We are excited to be one step closer to entering Ireland. This is a fantastic addition to Bauer Media Audio, and we see great opportunities to further develop the business while continuing to play an important cultural role in Ireland with trusted news, talented presenters offered within well-known brands.”
Approval from Minister for Tourism, Culture, Arts, Gaeltacht, Sport and Media Catherine Martin has confirmed that following an initial media merger examination, the proposed acquisition of Communicorp Group by Bauer Media Audio Holdings GmbH can proceed as it is not contrary to the public interest in protecting the plurality of media in the state.
This completes all phases of required regulatory approval and follows approvals from The Broadcasting Authority of Ireland and The Competition and Consumer Protection Commission.
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This story first appeared on Radio Today