Canaccord Genuity Hawkpoint advises Global Radio on its acquisition of the radio business of Guardian Media Group plc

Canaccord Genuity Hawkpoint is pleased to announce that, on 24 June 2012, its client, Global Radio (“Global”) acquired the radio business of Guardian Media Group plc (“GMG”) for an undisclosed amount.

Global acquired the radio business of Chrysalis plc for £170 million in June 2007 (when Canaccord Genuity Hawkpoint acted as adviser to Chrysalis). Following its £375 million acquisition of GCap Media in March 2008, Global is now the largest commercial radio operator in the UK with c. 20 million listeners. The company owns a number of leading radio brands including the national station Classic FM, national networks 95-106 Capital FM and Heart, as well as LBC, XFM, Gold and Choice FM.

GMG Radio was launched in 1999 and operates through two brands, Real Radio and Smooth Radio, mainly in the northern regions of the UK, Scotland and Wales.

GMG Radio will continue to be run separately from Global whilst a competition review is conducted.

This acquisition marks the third transaction on which Canaccord Genuity Hawkpoint has been mandated to advise Global and is indicative of the strong advisory relationship that has been built with Global since 2007.

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