Latest news with #MalcolmDenmark
Irish Independent
14 hours 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.
Edinburgh Reporter
23-05-2025
- Business
- Edinburgh Reporter
The Scotsman will have a new owner from next week
Regional publisher National World will be under new ownership from next week after the takeover by Media Concierge cleared its final legal hurdles. The takeover – which valued the group at £65million – will take effect on Tuesday 27 May after being given approval by the High Court in London yesterday. It will mean historic regional newsbrands such as The Yorkshire Post, The Scotsman and Portsmouth daily The News will have their fourth owner in the space of just over five years. In a message to staff at the publisher, Media Concierge boss Malcolm Denmark pledged that as a privately-owned business rather than a public company accountable to shareholders, it would not be focused on 'short-term results.' Malcolm Denmark Mr Denmark, pictured, said: 'As we begin this new chapter together, I want to start by saying thank you. Thank you for your hard work, your professionalism, and your continued commitment to delivering trusted local journalism. 'We know that the recent period, as the process of acquiring the business unfolded, brought a degree of uncertainty—but your focus and resilience have ensured that the work has gone on, and that does not go unnoticed. 'Our company, Media Concierge, has been a strong supporter of local and regional media for many years. In fact, we were the first and largest investor in National World. 'From the outset, we believed in the vision of building a sustainable and independent news business that serves communities across the UK. That belief has not changed. 'Now, as we move from investor to owner, our approach is straightforward. We want to support you in doing what you already do so well. You know your audiences, your titles, and your communities. The most important thing we can do right now is to give you the space and confidence to carry on—business as usual. 'This change of ownership also means National World will become a privately owned, independent business. We are a family-owned company, and that gives us a different perspective. We are not focused on short-term results. We take a longer-term view, built on relationships—whether with our teams, our readers, or our customers. 'In the weeks ahead, we will be reaching out to introduce ourselves and start the conversation. We're keen to listen, to understand what's working well, and to hear any thoughts you may have as we settle in. Our aim is to support you in the most practical and helpful way we can. 'We are excited about what lies ahead and confident that, together, we can build something of real and lasting value.' Earlier Mr Denmark had welcomed the decision of the High Court in London to approve the Scheme of Arrangement giving effect to its acquisition of National World. The takeover had already been approved by National World shareholders but had been awaiting final regulatory approval from the Irish government and the UK courts. Mr Denmark said: 'The formal approval of the transaction marks the final step in the process, and we are pleased to be moving forward. National World is home to some of the UK's most respected and long-established regional media, and we believe there is significant potential for growth and renewal with the right focus and investment. 'As a long-term investor in the business, and with extensive experience managing local and regional news brands in Ireland, we understand both the challenges and the value of high-quality, community-based journalism. 'We greatly appreciate the dedication and professionalism shown by National World's teams throughout this period. Their commitment has ensured the business remains on a strong operational footing. 'We now look forward to working together to support and strengthen the business in what we believe can be an exciting new chapter.' National World – headed by David Montgomery – was created after its purchase of the former Johnston Press/JPI Media titles for £10.2m in 2020. Mr Montgomery had hoped to remain in control of the company with the help of Chelsea owner Todd Boehly, but the latter pulled out of a potential rival bid for the company last week. This article was first published on Hold The Front Page here and is republished with the permission of Hold The Front Page a fellow member of the Independent Community News Network (ICNN). Paul Linford This author does not have any more posts. Like this: Like Related
