Bauer Radio has bought Emap’s commercial radio stations, including London’s Magic 105.4, for £422 million. Emap said it hopes the move will deliver “significant long-term value for shareholders”.
Completion of the sales of Consumer Media and Radio are both conditions of the proposed acquisition of Emap plc by Eden Bidco Limited, announced on 21 December 2007.
A spokesperson for Bauer said: “We are delighted to have finally crossed the finishing line. We believe that the addition of Emap will give all of us new opportunities to develop the business and to find new ideas. Together we will match future opportunities and challenges.”