Bauer Media acquires commercial radio group Orion Media
The Bauer Media Group has acquired Midlands-based commercial radio group Orion Media, which operates the Free Radio and Gem radio brands.
Free Radio and Gem reach more than 1.25m million people weekly across Birmingham, Wolverhampton, Coventry, Derby, Leicester, Hereford & Worcester and Nottingham.
The acquisition means Bauer Media’s share of UK commercial radio listening has increased to 34 per cent, and has extended the total reach of Bauer‘s national and regional radio brands to 17.4 million.
It also means an improved audience offering to advertisers and commercial partners.
Paul Keenan, chief executive of Bauer Media commented: “Free Radio and Gem are influential radio stations in one of the UK’s fastest growing regions. Bauer’s desire to build out its extensive radio business is testament to the nature of the industry which continues to be a strong, robust and growing platform, thriving in the always-on, mobile, connected world.”
Adrian Serle, chief executive of Orion Media said: “Orion has established market-leading status for audiences and revenues in each of its markets, something our teams should be immensely proud of - we are extremely confident that the business will continue to thrive under Bauer's ownership.”
The transaction provides an exit for Orion Media's institutional backers, LDC, the private equity arm of Lloyds Banking Group, which originally invested in the business in 2009.