The proposed acquisition of Communicorp Group by Bauer Media Audio Holdings has been given the green light.

The Minister for Tourism, Culture, Arts, Gaeltacht, Sport and Media Catherine Martin said the acquisition could proceed as it was "not contrary to the public interest in protecting the plurality of media in the state."

It follows approvals from The Broadcasting Authority of Ireland and The Competition and Consumer Protection Commission.

The latest development completes all phases of the required regulatory approval.

The process is expected to conclude at the end of the month.

Communicorp brands include Newstalk, Today FM, 98FM and the two Spin stations.

The group has a weekly audience of more than 1.75 million listeners.

Bauer is a major commercial radio operator with operations in eight countries and more than 55 million weekly listeners.