The Broadcasting Commission of Ireland, formerly known as the IRTC, has relaxed its rules on media ownership in Ireland paving the way for consolidation of the Irish media market.
The IBC said in its policy statement published today that it will consider allowing existing media groups to take 100 per cent control of other media companies.
The latest news from the Broadcasting Commission of Ireland bodes well for Ulster Television and Scottish Radio Holdings' ambitions in the Irish radio market.
Scottish Radio Holdings which already has a 24 per cent stake in Today FM has indicated it would like to buy the station outright. While UTV may now win full control of County Media, the owner of three radio stations in Cork. UTV’s bid for County Media was thwarted by the IBC earlier this year but this was later reviwed to allow UTV 60 per cent of County Sound.
BCI rules state that no company can own more than 27 per cent of an independent radio station.