The Broadcasting Authority of Ireland has confirmed this morning to Hot Press that they’ve given “authorisation in principle” to Denis O’Brien and his Communicorps Group taking a significant shareholding in the loss-making Phantom 105.2 FM who suffered a decrease in the latest JNLR figures.
BAI spokesman Brian Furey added that there would be “no impact” on Communicorps’ current ownership of Today FM, 98FM, Spin FM Dublin & South West and Newstalk.
Both Communicorps and Phantom still have to submit further information about the deal to the BAI for their approval and to enable contracts to be updated.
What this means for the current shareholders including the original Phantom pirate crew (Wireless Media), and the station’s output remains to be seen.
Phantom’s other current shareholders include MCD’s Denis Desmond and Principle Management.