LONDON - Scottish Radio Holdings has made its second major purchase this month with the £36.4m acquisition of the 76% stake in Radio Ireland, which owns Ireland's only independent national radio station Today FM, that it did not already own.
SRH, which owns Radio Clyde in Glasgow and Cool FM in eastern Northern Ireland, spent £18m just eight days ago when it bought Southampton's Wave 105FM from Kelvin MacKenzie's The Wireless Group.
The purchase was announced on the back of SRH's full-year results. The company posted a 13% fall in underlying full-year profits to £16.1m, on revenues up 11% to £79.8m.
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