Orion Media and UTV did not bid for GMG Radio

Phil Riley, chief executive of Midlands radio group Orion Media, has denied he made an offer for Guardian Media Group' radio assets, following weekend reports he had bid for the stations.

Phil Riley: chief executive of Orion Media
Phil Riley: chief executive of Orion Media

Riley said:"It’s completely utterly wrong and absolutely not true. I speak to every person in radio every week, but I have not tabled an offer to GMG. That is categorically not true."

The Sunday Telegraph reported that GMG had turned down offers for GMG Radio from Orion Media and UTV, the operator of the channel three licence in Northern Ireland, because they were too low.

It is understood that UTV spoke to GMG’s new chief executive Andrew Miller to say that should GMG decide to dispose of GMG Radio, UTV could be interested in the business, but it did not make a formal offer either.

A spokesman for GMG said: "Our radio stations are attractive assets, so it is unsurprising that we receive expressions of interest from time to time. While we keep our portfolio under constant review, we are not seeking a buyer at this time."

According to GMG’s annual report GMG Radio, which owns the Real Radio and Smooth Radio brands had a turnover of £50.1m in the year to the end of March 2010 and posted an operating profit before exceptional items and amortisation of intangibles of £0.6 million (up from a £6.6m loss in 2009).

However, an impairment of £63.9m was made on the radio assets, reflecting the impact of the recession on growth projections in the short term.

UTV declined to comment.

Have your say...

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus
Media Week Jobs
Search for more media jobs

Latest

Lost in translation: when brand taglines don't travel

Lost in translation: when brand taglines don't travel

These might be some of the most memorable brand taglines in English but when they cross oceans, they mean something entirely different. We searched the depths of the internet to find the best, or worst.

Share
Traditional TV viewers predicted to drop as mobile fuels rise in online video

Traditional TV viewers predicted to drop as mobile fuels rise in online video

Linear TV viewing figures are set to drop worldwide for the first time next year, with online video consumption set to rise by 23.3 per cent in 2015, according to a report by ZenithOptimedia.

Share
The 7 deadly sins of brand management - and how to avoid them

The 7 deadly sins of brand management - and how to avoid them

Some of the most valuable assets a firm has are the brands it has developed. Brands create identification, differentiation and value for customers and shareholders alike. By influencing customer choice, creating a loyal and passionate following as well as commanding a premium for their products and services, strong brands can be key to great business performance.

Share

Get news by email