Real and Smooth go Global after acquisition of radio stations

A NETWORK of radio stations operating under the Real and Smooth brands has been acquired by Classic FM and Heart broadcaster Global Radio.

GMG Radio, which was launched in 1999 and has a 4.5 per cent share of the radio listening market, consists of five regional stations under the Real name and Smooth Radio’s six FM regional stations and digital output.

It broadcasts in Leeds, Bradford, Sheffield, Doncaster and Barnsley and across Yorkshire on FM, DAB digital radio and online.

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The business is part of Guardian Media Group, which said the stations will have the chance to “develop and flourish” as part of Global Radio.

They will continue to be run separately from Global Radio whilst a regulatory review into the acquisition takes place. The sale price has not been disclosed.

Other stations in the Global portfolio include Capital, XFM, LBC and Choice FM.

Ashley Tabor, founder and executive president of Global Group, said: “We are pleased to have concluded this deal, and once the required approvals have been received, we will look forward to welcoming the GMG radio stations into the Global family.

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“We believe that this is a very strong business with brands and assets that are highly complementary to those of Global Radio.”

Andrew Miller, chief executive of the Guardian Media Group, said: “Our portfolio of investments that lie outside our core national newspaper business exist to underpin the long-term financial and editorial integrity of the Guardian.

“If we believe that best value for the group lies in the disposal of a non-core asset, then we will do so. The talented team at GMG Radio has been very successful in building strong brands, which have been attractive to listeners and advertisers and have attracted considerable external interest.

“We believe that this transaction gives the business an excellent opportunity to develop and flourish as part of Global Radio.

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“I would like to thank everyone at GMG Radio for their outstanding achievements over the last few years and wish them every success for the future.”

The Guardian Media Group reported an operating loss before exceptional items of £54.5m last year, while revenue from continuing businesses fell from £280m to £255m.

Its core business GNM has embarked upon a new digital-first strategy with the aim of ensuring the Manchester-founded Guardian’s long-term financial sustainability.

Its other investments include business to business publisher Emap and the Auto Trader website and magazine.