Sláger Radio buys peer one of the biggest radio station

Budapest (MTI) – Hungary’s Sláger Radio, which has 2.2 million listeners, has bought the operator of peer Class FM, with 2.8 million listeners, the companies announced on Monday.

Sláger Radio chief executive Michael McNut declined to reveal the price of the transaction, but said it was market-based and reflected uncertainty over a decision on the renewal of Class FM’s broadcast licence, which expires in the autumn.

The parties informed the National Media and Infocommunications Authority (NMHH) of the acquisition on Monday.

McNut said the Class FM brand would be kept. McNut owns 85 percent of Slager Radio and Marquard Media owns the rest.

Source: http://mtva.hu/hu/hungary-matters