Orion Media operates eight stations under the Free Radio and Gem brands.

Investment type
  • Management buyout
Exit type
  • Trade sale
Exit date

May 2016

LDC Team
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I’d like to thank Andy Grove and the team at LDC for its financial and strategic support over the last seven years, which has been a crucial part of our growth and development.”

Adrian Serle, CEO
Orion Media

In the UK, Bauer Media has 71 radio stations, including national radio brands KISS, Magic and Absolute. Local brands forming the Bauer City Network include Hits Radio in Manchester, Radio City in Liverpool, Hallam FM in Sheffield and Metro Radio in Newcastle.

The acquisition complemented and built on Bauer Media Group’s existing portfolio, giving it a 34 per cent share of commercial radio listening and an audience of 17.4m, and strengthens its unique offer to advertisers and commercial partners.

The sale delivered a money multiple of 2.3x for LDC.