York radio station Minster FM has a new owner.
Bauer Media has bought the UKRD Group, which owns ten local commercial radio stations, including Minster FM, Stray FM and Yorkshire Coast Radio.
UKRD was one of the last independent radio companies left in Britain.
Staff at Minster FM were informed shortly before 10am this morning.
Bridget Meynell, managing director of Minster FM, told YorkMix:
Minster FM will make a great addition to the Bauer portfolio.
Minster FM’s audience can rest assured that Bauer Media have an excellent track record of acquiring businesses and successfully integrating them into their portfolio, with stations like Planet Rock, Absolute Radio and Jazz FM all flourishing under Bauer ownership.
We welcome working with our new owners and look forward to the opportunities that will no doubt be presented to the talented team here at Minster FM.
Bauer Media Group is a German-based global corporation with a portfolio of more than 600 magazines and 50 radio and TV stations around the world.
Paul Keenan, CEO Bauer Media UK and European Radio, said today:
These stations are an excellent addition to our business and further extend our reach into completely new areas of the UK.
This further demonstrates our long-term commitment and belief in commercial radio which has never been so exciting – for both listeners and advertisers.
Baeur is on something of a buying spree, having recently bought Lincs FM, Celador Radio and Wireless Group’s local radio stations.
The Competition and Markets Authority is investigating this, and has asked Bauer to ‘hold separate’ the new companies – meaning the acquired stations must be run on a standalone basis for the time being.
It is likely the same will happen with Minster FM and the other UKRD stations.
CEO of UKRD William Rogers said:
UKRD’s radio stations will make a great addition to the Bauer portfolio and the opportunities that may well present themselves to many of our talented and highly professional people will be greatly enhanced by this acquisition.