Latest news with #ConnachtTribune
Irish Examiner
4 hours ago
- Business
- Irish Examiner
Classic Hits owner Bay Broadcasting set to purchase Galway Bay FM
Galway Bay FM has been purchased by Classic Hits owner Bay Broadcasting from the publishers of the Connacht Tribune. The deal is subject to approval by the Competition and Consumer Protection Commission (CCPC) and ministerial approval. Just last week, it emerged that the Connacht Tribune is set to be sold to the publisher of the Iconic group of newspapers, Malcolm Denmark, subject to CCPC approval. Galway Bay FM launched in 1989 under the name Radio West, rebranding in 1993. The Connacht Tribune Ltd, which owned a 27% stake, became sole owners in 2006. Galway Bay FM broadcasts to Galway city and county, with a market share of 34%, with listeners predominantly in the age 27 to 60 bracket. The station has a staff count of 25 at is based at Sandy Road in the city. "Galway Bay FM stands out as one of Ireland's most respected local stations, with a loyal audience and a strong local identity," said Bay Broadcasting director Kevin Branigan. "It's one of the most enduring local radio stations in the country and its track record speaks for itself. We look forward to working with the excellent team in Galway Bay FM and to continuing the station's proud position as the leading radio service in Galway." Bay Broadcasting is privately-owned and co-founded by Mike Ormonde and Mr Branigan. It operates Dublin music radio stations Radio Nova and Sunshine 106.8, along with Ireland's Classic Hits Radio, which broadcasts to Dublin Cork, Limerick, and Galway. With the addition of Galway Bay FM, Bay Broadcasting will become the second largest radio group in Ireland - and the only Irish-owned radio group - now larger than Onic (formerly Wireless), operators of FM104/Q102 in Dublin, 96FM/103FM in Cork, Live 95 in Limerick,and LMFM in Louth/Meath. The purchase of Galway Bay FM will give Bay 810,000 listeners compared to Onic's 796,000 listeners. The acquisition has already been approved by Coimisiún na Meán. It stands Bay Broadcasting only behind Bauer, whose stations include Newstalk, Today FM, RedFM 98FM, Spin South West, and Beat 102-103.
Irish Independent
2 days ago
- Business
- Irish Independent
Radio Nova owner to buy Galway Bay FM
The competition authority says it has been notified of the proposed acquisition by Bay Broadcasting Ltd, which also has a substantial shareholding in Sunshine 106.8, of Western Community Broadcasting Holdings Ltd, which operates the Galway station. Galway Bay FM has been part of the Connacht Tribune since 2006, when the newspaper bought out other shareholders in the local radio station at a cost of €20m. It already held a 27pc stake. The Connacht Tribune itself is to be purchased by Malcolm Denmark's Iconic Media Group, which is already the biggest regional newspaper publisher in the State. Three Galway families – the Allens, Naughtons and Hickeys – own the Tribune group, and it was reported last year they had hired IBI Corporate Finance to find a buyer for its assets. The Competition and Consumer Protection Commission said last week it had been formally notified of the proposed acquisition of the Galway-based newspaper by Formpress Publishing, part of the Iconic group. Media reports had initially linked Bauer Media to the purchase of Galway Bay FM. The owner of national stations Today FM and Newstalk has recently added Red FM, iRadio and Beat 102-103 to its stable. Instead the acquisition is being made by Bay Broadcasting Ltd, whose chief executive is Kevin Branigan, who is the co-owner along with Michael Ormonde. Mr Branigan has previously characterised the Dublin radio scene as a David and Goliath struggle, with Bay Broadcasting taking on 'billionaire owners'. Of late, however, Radio Nova has been the music station with the biggest market share in Dublin, helped by the success of its 'Morning Glory' show presented by Jim McCabe and comedian PJ Gallagher. Last year Mr Branigan wrote to the director general of RTE and to Catherine Martin, the then media minister, offering to buy 2FM for €10m. He said the station could have a positive future, but that 'should be in the private sector and not as a part of RTÉ'. The offer was rejected. The pace of consolidation within local media is quickening, with newspapers in particular coming under the control of a handful of big groups. While there may be some concerns about an over concentration of ownership, regulators must also take into account that some regional media operations will not survive financially unless they become part of bigger stables. Earlier this year Midlands 103, which is ultimately owned by the Tindle Group, bought South East Radio. The Tindle Group operates regional newspapers and radio stations across the UK and the Channel Islands, and Midlands 103, locally managed and serving Laois, Offaly and Westmeath, had been its only station in Ireland.
Irish Independent
29-05-2025
- Business
- Irish Independent
Malcolm Denmark group buys another local newspaper
The Competition and Consumer Protection Commission says it has been formally notified of the proposed acquisition of the Galway-based newspaper by Formpress Publishing, which is part of the Iconic group. The Tribune was first published in May 1909. Two decades later the group produced the Sentinel, which finished publication in 2014, and the Galway City Tribune was added by the group in 1984. Combined weekly circulation is believed to be in excess of 10,000, and its associated website is The wider group also includes the radio station Galway Bay FM. Reports have linked Bauer Media to its possible purchase. Three Galway families – the Allens, Naughtons and Hickeys – own the group, and it was reported last year that they had hired IBI Corporate Finance to find a buyer for its assets. The financial details of Iconic's purchase of the Connacht Tribune are not known. The valuations of newspapers have fallen precipitously over the last two decades, due to declining print circulations and reduced advertising revenue. Pre-tax profits at Formpress Publishing rose to €1.7m in the year to the end of September 2023, according to the most recent accounts filed. The company employed an average of 142 people during that 12-month reporting period, up by three on the previous year. Formpress owns about 25 local and regional newspaper titles, including the Mayo News, Kilkenny People, Limerick Leader, Derry News, Dundalk Democrat, Leitrim Observer and the Midland Tribune. Last October the competition authority approved the purchase by Formpress of D&D Media, owner of the Inishowen Independent. Such deals also need approval by the minister for media. While there may be some concerns about an over consolidation of local media in the hands of a few players, there will also be official recognition that some regional newspapers will not survive financially unless they become part of bigger stables. In a recent interview with the Sunday Times, Mr Denmark said he was 'passionate about local media' and sees a future in it. 'I am not giving up on it. We are getting a lot of traction and we are impressed by our numbers online,' he said. Confirming his interest in acquiring the Connacht Tribune, he said: 'The team in Galway is a particularly good one. They are the largest selling of the weekly regional papers now in the country and that is down to producing a very, very good paper every week.'
