×
You will be redirected back to your article in seconds

News Corp. Moves Into Radio, Acquires U.K. Giant Wireless Group

LONDON — Rupert Murdoch’s News Corporation has made an unexpected move into radio with the £220 million ($292.7 million) acquisition of U.K. media giant Wireless Group, the owner of Premier League soccer broadcaster Talksport.

The all-cash deal, which marks the first time News Corp. has entered the broadcast arena since it split from 21st Century Fox in 2013, saw the company take a 70% premium on Wireless’ price when the London stock market closed Thursday.

Wireless Group, which was known until last year as UTV, owns Virgin Radio and a host of local radio stations across the Britain and Ireland. It was founded originally by Kelvin MacKenzie, former editor and current columnist of News Corp.-owned tabloid The Sun, who sold it to UTV in 2005 for $130 million.

News Corp was a 30% shareholder in Wireless, while John Malone’s Liberty Global held a 28% share when UTV acquired the company.

News Corp. said the deal represents “an excellent strategic fit” for the company. The move gives Murdoch’s empire a major presence across all major media platforms.

“The acquisition will allow us to increase engagement for both businesses through the cross-promotion of our brands and the use of our respective talent,” News U.K. chief executive Rebekah Brooks said in a statement. “We also look forward to collaborating in the expansion of Wireless’ digital audio and international assets, which offer new opportunities for our business in the U.K. and globally.”

Talksport has the majority of Premier League radio rights in Britain, with the rest being held by the BBC. It also holds exclusive international rights for the league outside of Europe.

More Biz

  • President Donald Trump talks with Gov.-elect

    Trump Says He'll Work With California to Aid Wildfire Relief

    LONDON — Rupert Murdoch’s News Corporation has made an unexpected move into radio with the £220 million ($292.7 million) acquisition of U.K. media giant Wireless Group, the owner of Premier League soccer broadcaster Talksport. The all-cash deal, which marks the first time News Corp. has entered the broadcast arena since it split from 21st Century […]

  • church set Westworld Paramount Ranch Western

    Park Service Aims to Rebuild Western Town at Paramount Ranch in Two Years

    LONDON — Rupert Murdoch’s News Corporation has made an unexpected move into radio with the £220 million ($292.7 million) acquisition of U.K. media giant Wireless Group, the owner of Premier League soccer broadcaster Talksport. The all-cash deal, which marks the first time News Corp. has entered the broadcast arena since it split from 21st Century […]

  • Jim Acosta Microphone Moment

    First They Came For Acosta. Why We Sued Trump Before He Acts Again (Opinion)

    LONDON — Rupert Murdoch’s News Corporation has made an unexpected move into radio with the £220 million ($292.7 million) acquisition of U.K. media giant Wireless Group, the owner of Premier League soccer broadcaster Talksport. The all-cash deal, which marks the first time News Corp. has entered the broadcast arena since it split from 21st Century […]

  • Daniel GlassUJA-Federation of New York's Music

    Glassnote Music Strikes Strategic Partnership With Kobalt’s AWAL

    LONDON — Rupert Murdoch’s News Corporation has made an unexpected move into radio with the £220 million ($292.7 million) acquisition of U.K. media giant Wireless Group, the owner of Premier League soccer broadcaster Talksport. The all-cash deal, which marks the first time News Corp. has entered the broadcast arena since it split from 21st Century […]

  • Movie Theater

    Studios Expected to Push for Early Home Release in 2019 (EXCLUSIVE)

    LONDON — Rupert Murdoch’s News Corporation has made an unexpected move into radio with the £220 million ($292.7 million) acquisition of U.K. media giant Wireless Group, the owner of Premier League soccer broadcaster Talksport. The all-cash deal, which marks the first time News Corp. has entered the broadcast arena since it split from 21st Century […]

  • NetEase Discusses Importance of Chinese Gaming

    NetEase Discusses Importance of Chinese Gaming Regulation, Anti-Addiction Measures

    LONDON — Rupert Murdoch’s News Corporation has made an unexpected move into radio with the £220 million ($292.7 million) acquisition of U.K. media giant Wireless Group, the owner of Premier League soccer broadcaster Talksport. The all-cash deal, which marks the first time News Corp. has entered the broadcast arena since it split from 21st Century […]

  • Iggy Azalea at Hits 97.3, Fort

    Iggy Azalea Says She’s Signed a $2.7 Million Deal

    LONDON — Rupert Murdoch’s News Corporation has made an unexpected move into radio with the £220 million ($292.7 million) acquisition of U.K. media giant Wireless Group, the owner of Premier League soccer broadcaster Talksport. The all-cash deal, which marks the first time News Corp. has entered the broadcast arena since it split from 21st Century […]

More From Our Brands

Access exclusive content