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

AOL's Graham Moysey on why we need to invest in people to evolve

AOL's Graham Moysey on why we need to invest in people to evolve

At college I once read a quote from Aristotle that has stayed with me to this day - "The one exclusive sign of thorough knowledge is the power of teaching".

Share
Thriving digital listening opens up new opportunities

Thriving digital listening opens up new opportunities

As this week's Rajar figures highlight digital listening hours are at an all-time high, up 6.4% (yoy), Simon Kilby, head of marketplace at Bauer Media, points to new commercial opportunities.

Share
Trinity Mirror considers appeal of £1.2m phone-hacking charges

Trinity Mirror considers appeal of £1.2m phone-hacking charges

Trinity Mirror is considering an appeal after a High Court judge ordered the publisher to pay "very substantial" damages to celebrities Sadie Frost, Paul Gascoigne and others for phone-hacking.

Share

Get news by email