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Wireless Group radio stations, which include talkSPORT, Virgin Radio, Pulse and Signal Radio are now officially owned by News Corp after the sale was approved.
News Corp says there are significant opportunities to grow reach in the world of sport and entertainment, and cross-promote brands with the new stations, but will run the company on a standalone basis.
Rebekah Brooks, chief executive of News UK, said: “The acquisition of Wireless Group brings together two highly complementary businesses with brands that have a track record of creating compelling content and attracting engaged and loyal audiences. It will allow us to bolster our products by sharing the best journalistic content and broadcasting talent in the industry. Additionally we can offer cross-platform opportunities to advertisers and partners which we know that they want. We are excited to press ahead with new ideas that build on the strengths of both businesses”.
Wireless owns a number of national and local radio stations in the UK and Ireland, along with two digital businesses.
“There is great synergy between the two businesses, and we are excited about starting to explore the value that both News Corp and Wireless Group can bring to one another on both sides of the Irish Sea,” added Ronan McManamy, managing director of Wireless Group Ireland.