Media Capital confirms Bauer ‘expression of interest’ in radio units

Media Capital, one of Portugal’s leading media companies, on Friday confirmed it had received an expression of interest from the Bauer group in acquiring its radio business but that “no binding offers have yet been made” and so it was “premature” to state that “an agreement will be reached.”

In a statement sent to Portugal’s securities markets regulator, the CMVM, Media Capital issued a clarification “in view of the news reported in the press today” reporting that it planned to sell its radio business to Bauer.

“The Media Capital group confirms that it has received an expression of interest in relation to its radio business from Bauer, a major European radio operator,” the statement reads.

“However, no binding offers have been made and it is premature to say at this point that any agreement will be reached, the production of which would always depend, in fact, on regulatory authorisations,” it said, referring specifically to Portugal’s media regulator, ERC.

Media Capital is currently controlled by Mário Ferreira, a Porto-based investor who made his name pioneering cruises on the River Douro but whose interests now stretch well beyond the tourism business.