The IRTC has announced its approval in principal for a part take over bid by UTV of County Media in Cork which owns three radio stations.
The Commission had already blocked a 100% takeover by UTV but announced this evening it would allow the take over to go ahead on a 60:40 basis. The Commission agreed this was an exception to its existing policy which stipultes that existing media comapnies cannot hold more that 27% of another radio service.
It added that policy in this area is soon to be reviewed.
The IRTC also announced the winner of the new local radio station licence for Cork. Redhot FM have secured the youth licence having been selected from a shortlist of three.
