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Communicorp in radio station sale

Communicorp has sold a radio station business in Latvia. In a statement, the owner of Newstalk FM and Today FM said it had sold AS Radio SWH Latvia to Cinamon Holding, an Estonian-based entertainment company.

AS Radio SWH launched 22 years ago as the first commercial radio station in the Baltic country. Communicorp took over the station in 2007.

Commenting on the sale, Communicorp chief executive Gervaise Slowey, inset, said: "We are privileged to be part of the history of SWH, one of Latvia's greatest indigenous businesses."

The new ownership will take effect immediately.

Communicorp's on-going business interests in Ireland, UK and Bulgaria are unaffected by the sale.

Irish Independent