Press releases | Corporate and M&A, Competition | 01 Jul 2016

Travers Smith advises Wireless Group plc, formerly UTV Media plc, on £220m takeover by News Corp

Overview

Travers Smith LLP is advising Wireless Group on its £220m recommended cash offer by News Corp UK & Ireland Limited, an indirect wholly-owned subsidiary of News Corp whose businesses include The Sun, The Times and publishing company HarperCollins. 

Travers Smith has acted for the Wireless Group, formerly UTV Media plc, since UTV's takeover of the Wireless Group in 2005. 

The Travers Smith team was led by corporate partner Andrew Gillen, who was supported by senior associate Andrew Gofton-Salmond and associate Ceilidh Thomson. Additional specialist advice was provided by head of competition Nigel Seay.

Wireless Group operates in the UK and Ireland and boasts a wide portfolio of media assets primarily focused on radio broadcasting including brands such as talkRADIO, Virgin Radio UK and talkSPORT, which has radio and digital audio broadcasting rights for the Premier League, the FA Cup and the EFL Cup.

Commenting on the offer, Richard Huntingford, Executive Chairman of Wireless said "the excellent strategic fit and complementariness of the Wireless business to News Corp's operations will provide great opportunities for Wireless' management, employees and talent."

Lepe Partners LLP acted as financial advisers to News Corp, while Numis Securities Limited and Goodbody Stockbrokers acted as financial advisers to Wireless Group