Bauer media buys Absolute Radio in £25m deal

The Absolute Radio brand looks set to continue in its own right following its reported £25m takeover by Bauer Media announced earlier today (29 July).  

Absolute Radio

Bauer Media, the owner of media brands such as Heat and radios stations including Kiss and Magic, has agreed an estimated £20-£25m deal to buy Absolute Radio, according to reports.  

The deal is still subject to regulatory clearance with existing Absolute Radio owner Bennett, Coleman and Co reportedly having put the station, formerly known as Virgin Radio, on the market as long ago as 2011. 

Neither party has confirmed an exact fee for the deal, nor have they detailed how it will be absorbed into Bauer Media. 

Although Paul Keenan, Bauer Media CEO described the Absolute Radio brand as “complementary” to Bauer’s existing portfolio of stations, and he also took note of its “renowned digital assets”. 

He added: “Absolute Radio and its sister brands are loved by millions of UK consumers and by advertisers.  This acquisition will be an opportunity to learn and share across both businesses.” 

Meanwhile, Donnach O’Driscoll, Absolute Radio CEO, added: “Bauer Media UK is a business that really cares about building famous media and entertainment brands and music radio in particular. This brand will continue to thrive as part of the Bauer group.”

The latest RAJAR statistics revealed Absolute Radio’s total listening hours increased 9.2 per cent from the previous quarter, totalling 25.7 million hours in the first three months of the year. 

The Absolute Radio brand appears best-placed to sit within Bauer Media’s “Passion Portfolio” which recorded 6.7 million weekly listeners, according to the last RAJAR release. This figure rose to 13.7 million weekly listeners when taking into account Bauer Media’s local radio station portfolio. 

Latest from Marketing Week

PLEASE SIGN IN OR REGISTER. IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and inspiration that will help you develop as a marketer and leader.

Register and receive the best content from the only title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work, so we can make Marketing Week more relevant to you.

Register now

THE BEST CONTENT

Our award winning editorial team and columnists will ask the biggest questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we will be your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Dedicated to developing your skills and helping you achieve marketing excellence. Find guidance on leadership, professional development and the latest industry jobs.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here