Business Irish

Sunday 4 December 2016

'Global' tune-up will axe 200 jobs

Published 24/06/2010 | 05:00

DISPATCHES from across the water reveal that a UK radio group backed by Irish tycoons Dermot Desmond, John Magnier and JP McManus is taking advantage of new regional radio rules to cut costs.

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The trio's Global Radio plans to turn 33 of its regional Heart stations into 15 "super stations", eliminating some 200 jobs in the process following a recent relaxation of the rules for local radio news output.

The rejig will require £7m (€8.4m) in restructuring costs at the Global group, a drop in the ocean against the £375m the radio moguls paid to buy Heart owner G Cap.

Irish Independent

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