Competition watchdogs
have requested more information about the €200m sale
of Highland Radio and Emap's other Irish radio
assets.
Communicorp, headed by billionaire businessman Denis
O'Brien, struck the deal in July to buy the local
radio station,Today FM and FM104 from British media
group Emap.
However, the Competition Authority this week
extended its first stage investigation into the
proposed acquisition. It said the information
contained in submissions was insufficient to
determine if the merger should be put into effect at
this stage.
"As a result of this request, the phase one
investigation period, which usually lasts one month,
has been stopped and will be reset to a new
appropriate date once the parties fully comply with
the request," the Authority said. The deal will make
the group the second biggest broadcaster in Ireland. |
