Wireless Group – formerly known as UTV Media before the sale of its television assets, including UTV Ireland to ITV – has announced a slight rise in revenue for the first half of the year to £38.2m (€44.25m), however, it said advertising revenue in Ireland slowed in the lead-up to Brexit.
Group operating profit between January and June of £4.7m was £1.4m lower when compared with the same period in 2015.
Wireless Group – which is set to be acquired by Rupert Murdoch’s News Corp, pending regulatory approval – said 92% of its shareholders have now accepted the 315p per share all cash offer that values the company at £220m (€255m).
Wireless Group controls a number of Irish radio stations including FM104 and Q102 in Dublin.
As well as the two Dublin stations, it also controls Cork's 96 FM and C103, Live 95FM in Limerick, LMFM in northeast Leinster and Belfast-based U105.
It said advertising trends here in Ireland “were softer” ahead of the UK’s Brexit vote on 23 June and that it is still unclear what impact uncertainty over Brexit will have on advertising.
The group also owns a number of UK media brands, including talkSPORT.
Commenting on the results, group Chairman Richard Huntingford said: "Wireless Group - and especially talkSPORT - has performed well in the first six months of the year.
“After a competitive bidding process, we were also delighted to be awarded three packages for Premier League live audio rights which will further underpin the outlook for talkSPORT going forward.
“The recent RAJAR and JNLR figures demonstrate the strength of the Group's ongoing brands in its key markets as well as the ability to launch successfully new digital brands that are attractive to listeners which stands the Group in good stead going forward.”
