Bauer Media Audio, Europe's leading digital commercial radio broadcaster and audio operator, and the Media Capital Group have entered into a definitive agreement under which Bauer Media Audio will acquire MCR - Media Capital Rádios, subject to regulatory approval.

This acquisition marks the entry of Bauer Media Audio into the Portuguese market, expanding its audio business to nine countries. The transaction consolidates Bauer's position as the European leader in commercial radio broadcasting, growing its audience to more than 61 million weekly listeners across radio stations, on-demand audio, podcasts and subscription digital audio services.

Media Capital Radios is the leading radio group in Portugal , with a weekly reach of over 4.5 million listeners. Offering national and local programming, MCR's portfolio includes four of the 10 most listened to radio stations in Portugal. Rádio Comercial is the audience leader over the last 10 years, M80, the third most listened to radio station nationwide and second in the Greater Lisbon region, where Rádio Comercial leads. The group also includes Cidade FM, a leader in the youth segment and two niche radio stations, Smooth FM and Vodafone FM, as well as an extensive digital portfolio comprising 30 digital radio stations and +60 podcasts.

Paul Keenan, Chief Operating Officer (COO) of Bauer Media Group, says: "Radio is hugely popular in Portugal and is a key part of the country's rich cultural landscape. This makes it an attractive market as it transitions into the exciting, wider world of audio. We are very much looking forward to working closely with the talented team at Media Capital Rádios. We are committed to continuing to offer trusted news and great music and entertainment to Portuguese audiences, while bringing investment and innovation which will benefit listeners and advertisers alike."

Mário Ferreira, Chairman of Media Capital Group, points out that "Today we mark an exciting new chapter for both media groups. I'm confident that under Bauer Media's ownership, radio stations will continue to thrive, be very successful and grow. We are very proud to be the guardians of these iconic brands in the Portuguese market and I would like to thank our talented teams for their commitment and contribution to Media Capital Radios"

This announcement follows the 2021 acquisitions by Bauer Media Audio in Slovakia, Ireland and Finland, and is an integral part of an investment strategy that will lead to scale and investment benefits in digital for the entire European radio industry and audio.

Completion of the acquisition is subject tocustomary closing conditions and regulatory approval.