British media group Emap has confirmed that it is looking at a possible sale of its radio stations in the Republic - Today FM, FM 104 and Highland Radio,

In a trading statement this morning, the company said it was 'considering its options' on the stations and would provide an update on the situation when it released financial results in May. The stations are said to be valued at around €170m.

The company has been engaged in cost-cutting measures as it tries to deal with falling revenues. Today's trading statement for the year to the end of March showed underlying radio revenues down 1% compared with a year earlier. Revenue at its magazines division was also down.

Emap said the 'existing difficult trading conditions' in consumer media markets would  continue.