Radio sale

Mid-West sale is imminent

Áine Ryan

TWO interested parties have offers on the table for the purchase of popular Mid West Radio, The Mayo News understands. The station was put up for sale in February at the same time as rival station Ocean FM. 
It had been projected that the deal would be closed by late March but many of the original groups, whose names were associated with a possible deal are no longer in the frame, it has emerged.
In a report by Ciaran Hancock, of The Irish Times, published on February 27 last, TV3, Vienna Investments, The Irish Times Ltd and Liberty Global (owner of Chorus and NTL) were all potential bidders.
However, it has now emerged that a new consortium, formed from some of the above mentioned, may be one of the two remaining interested party’s. The other party at the table has not been a visible player in this sector for some time, it is understood.
Corporate Finance Group, Raglan Capital, which is overseeing the sale of the station, declined to comment on details of the sale.
Mid West Radio employs about 30 staff and has provided a local radio service in Mayo since 1989. Its Chief Executive, Mr Paul Claffey is also an investor, while Cork-based Thomas Crosbie Holdings holds a small shareholding.
The station’s ethos has been underpinned by adherence to ‘a truly local service’, where ‘the listener comes first’ and has fostered strong links with emigrant associations worldwide. 
In the latest JNLR/TNSmrbi survey,  published in February last, Mid West Radio had the second-highest market share –51.1 per cent – of any local radio station, outside Dublin. Donegal’s Highland Radio maintained first place with 62.5 per cent.
The Mayo News failed to contact Mr Paul Claffey who was out of the country yesterday.