3.5.2 where revised terms have been accepted by a Represented Station pursuant to paragraph 3.4, offer to provide that Represented Station with services at the election of the Represented Station, either: (A) in accordance with paragraph 3.2 above; or. These principally related to uncertainty regarding the incentives, likely appetite and strategic focus of any purchaser to maintain FRS as an active competitor to represent independent stations, and the diverse set of radio stations which would make up the divestiture package. What’s does this mean for Bauer and First Radio sales? Grt Hits Sussex Grt Hits Berks Grt Hits S Coast Bournemouth In other news there's a cracking signal from all those muxs this morning. Bauer's network of local FM stations was originally known as the Big City Network.In 2006, many of the former Scottish Radio Holdings stations were added to the network and branded as Big City Network Scotland and Northern Ireland, although all stations kept their original logos, with the exception of CFM, which took a version of the 'cog' logo used by other BCN stations in England. When considering appropriate remedies, in the specific circumstances of this case, the CMA concluded that imposing a full divestment remedy would have raised significant risks. This would leave stations with insufficient choice when trying to sell national radio advertising airtime and potentially lead to them paying higher commission rates.”. the acquisition of the entire issued share capital of UKRD Group ("UKRD") and all of UKRD’s assets, namely ten local radio stations and the associated local FM radio licences, interests in local multiplexes, and importantly, UKRD’s 50% interest in First Radio Sales Limited ("FRS"). At Ashurst, we believe innovation means only one thing: continuous and disruptive improvement in all that we do - for the benefit of our clients, our employees and our wider corporate social responsibility. 12.5 For the purpose of fulfilling the Monitoring Trustee Functions, the Monitoring Trustee shall not be bound by instructions of Bauer nor shall the Monitoring Trustee Functions be extended or varied in any way by Bauer save with the prior express written consent of the CMA. REMUNERATION OF THE MONITORING TRUSTEE. 23.1 Bauer recognises and acknowledges that these Final Undertakings shall be governed and construed in all respects in accordance with English law. Bauer Media is hoping to plough on with the consolidation of its local radio network by asking media regulator OfCom to change the licence remit of Bristol station Sam FM. In a break from all the COVID-19 pandemic news, it was announced last week that the ‘hold separate’ order issued last year by the Competitions and Markets Authority (CMA) on Bauer’s acquisition of around 50 radio station licenses had been lifted. The purpose of this meeting will to be to discuss these Final Undertakings and Bauer’s adherence to them. Bauer shall use its best endeavours to make such appointment within 7 Working Days of receiving the nominations from the CMA. The following stations will join either Hits Radio Network or become Greatest Hit Radio. On the 1 June 2020, following a detailed Phase 2 investigation, the Competition and Markets Authority ("CMA") published a notice of acceptance of final undertakings in relation to the completed acquisitions by Bauer Media Group ("Bauer") of four different radio businesses from Celador Entertainment, Lincs FM Group, Wireless Group, and UKRD Group. However, three of the acquired stations were pretty much unaffected by the big revamp, retaining both their local brand and local programmes.
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