Test case for radio industry
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Your support makes all the difference.The competition Commission yesterday outlined its potential concerns over a proposed radio deal that is being viewed as a test case for consolidation in that sector.
The watchdog sent out an "issues letter" for the £12.5m acquisition of Bristol-based Galaxy 101 by Vibe Radio from Chrysalis Group. Vibe is a joint venture between GWR and Scottish Radio Holdings.
The industry was shocked when the proposed transaction was called in by the commission last month because of its tiny size. It is believed that, should the deal be blocked, it may dash hopes of consolidation.
Paul Richards, an analyst at Numis, said the deal had implications for the big radio mergers that are thought to be on the cards after new legislation. He said: "This will show the way the [competition] authorities are thinking."
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