More Commercial Radio Ownership Changes in Scandinavia

Michael Hedges September 23, 2004

Station ownership continues to shuffle in Scandinavia as NRJ Groupe acquires easy listening network KLEM FM.

The company announced the purchase of the station network from Clear Channel Communications and Norsk Aller, complimenting its existing NRJ brand network. NRJ also contracted with SBS Broadcasting for ad sales.

Earlier this year NRJ Groupe closed its NRJ brand stations in Denmark and in Sweden entered into a management agreement with Modern Times Group (MTG) for ad sales and day-to-day operations.

According to a company announcement, NRJ Groupe expects the reorganization of its Scandinavian operations to accelerate a September 2005 break-even target for its international operations.

At the end of August SBS Broadcasting repurchased common stock valued at 18.6m euros used to purchase Radio 1 Norge AS in Norway and Radio 2 AS in Denmark in September 2003 from Clear Channel Communications and Norsk Aller.