World: Amsterdam - Consortium bids for EUR190m Sky Radio group

Rupert Murdoch's Dutch commercial radio station group, Sky Radio, is in the process of being taken over by a consortium of companies led by the Telegraaf Media Group for EUR190 million.

TMG has been forced to team up with ING Corporate Investments because Dutch law prohibits the media company from owning more than 33.3per cent of Sky Radio.

The group is prevented from securing majority shares in Dutch media companies because it controls more than 25 per cent of newspaper sales in the country.

Sky Radio is the market leader in The Netherlands with an audience share of around 20 per cent. The group includes three radio stations, Classic FM, Radio Veronica and Sky Radio 101FM.