Bay Broadcasting's move to take sole control of Dublin station Radio Nova has been cleared by the Competition and Consumer Protection Commission. Bay, which is owned by Nova's chief executive Kevin Branigan and Michael Ormonde, has bought out radio investors Vienna Investments and Des Whelan, as well as tech investor Pat McDonagh.

Bay previously had a 38 per cent stake in the rock music station. The group is also behind Classic Hits 4FM and is a shareholder in Dublin country music station Sunshine 106.8.

Radio Nova was granted a 10-year licence by the Broadcasting Authority of Ireland in 2010 to broadcast a rock music service to Dublin and the wider commuter belt, including parts of Wicklow, Kildare and Meath.

The commission said it had formed the view that the proposed transaction, announced last October, would not substantially lessen competition in any market for goods or services in the State.