The deal had already been cleared by the Competition and Consumer Protection Commission (CCPC) but required additional approval from the government as it is classed as a “media merger” under the Competition Act 2022.

The Department of Tourism, Culture, Arts, Gaeltacht, Sport and Media said minister Catherine Martin made a determination on 25 October that the proposed merger will not adversely affect the plurality of media in the State.

iRadio is one of Ireland’s leading youth music brands, being the most listened to station in the 15 to 44 demographics across its 15 broadcast counties. Bauer Media Audio entered Ireland in 2021 and owns brands including Today FM, Newstalk and SPIN.

Following the acquisition, Bauer Media Audio will reach more than 61 million listeners across nine countries every week.

Matheson advised Bauer Media Audio on the transaction. The Matheson team was led on the corporate M&A side by partner Rob Barrett and solicitors Dan McAleese and Rachel Hodgins, and on the competition and regulatory side by partner Niall Collins and senior associate Simon Shinkwin.

Speaking in August, Mr Barrett said: “We are delighted to have again assisted Bauer Media Audio on a further strategic acquisition, as it continues its commitment to Ireland’s commercial radio sector. We look forward to continuing to work with the Bauer team to bring the transaction to a successful close and in the future.”