Riley is frontrunner in race to buy Global's Midlands assets

LONDON - Former Chrysalis Radio chief executive Phil Riley is being tipped to win the £30m race to acquire Global Radio's five Midlands stations.

Former Chrysalis Radio chief executive Phil Riley
Former Chrysalis Radio chief executive Phil Riley

It is understood that Riley is part of a consortium bidding for Global Radio's West Midlands assets BRMB, Mercia, Wyvern, Beacon and its East Midlands station Heart 106. The bidding is now in its second round with a group asset price tag believed to be approximately £30m.

Global Radio is selling the assets as a single package. Other known bidders include Bauer Media, headed by Dee Ford, radio group managing director, and Premier Digital Broadcasting. Guardian Media Group dropped out of the running and never submitted a formal bid.

Riley has emerged as the favourite to win the race as it is thought likely he would keep the stations' national sales contracts with Global Radio. A senior radio figure said: "Riley is well placed to take this operation over and would probably leave the national sales contracts with Global.

"I would be surprised if Global sold the stations to Bauer, although BRMB would be a sensible addition to [Bauer's] Big City Network, as [Global Radio] wouldn't want to help increase the foothold of its biggest competitor."

Both Riley and Global Radio declined to comment.

In August, the Office of Fair Trading made the sale of the stations a condition of its approval for Global's £375m acquisition of GCap Media. Most of GCap's 71 local UK stations do not compete with Global.


Become a member of Campaign from just £51 a quarter

Get the very latest news and insight from Campaign with unrestricted access to ,plus get exclusive discounts to Campaign events

Become a member

Looking for a new job?

Get the latest creative jobs in advertising, media, marketing and digital delivered directly to your inbox each day.

Create an alert now

Partner content