Report: GMG Considering Bid For UK's Saga Stations
December 11, 2006 at 5:47 AM (PT)
THE GUARDIAN reports that its parent company, GUARDIAN MEDIA GROUP, is considering a bid to buy UK senior insurance and travel provider SAGA's four radio licenses in a 60 million-100 million-pound offer.
SAGA operates stations targeted at audiences 50+ in the EAST MIDLANDS, WEST MIDLANDS and GLASGOW and holds a permit to launch a new station in the NORTHEAST next year. GMG recently bought the CENTURY FM stations in MANCHESTER and GATESHEAD from GCAP MEDIA and owns the REAL RADIO stations in SCOTLAND, WALES, and YORKSHIRE and the SMOOTH FM stations in LONDON and the NORTHWEST.
SAGA is in the midst of a review of its radio operations, with a spokesman for the company telling the GUARDIAN, "The review of our radio business is ongoing, and they have not yet reached a conclusion." A GMG spokesman told the paper, "Clearly we would consider any opportunities that arise in relevant sectors. Beyond that we wouldn't comment on market speculation."