Denis O'Brien said yesterday that he expected to conclude the acquisition of Emap's Irish radio stations in Ireland by the end of this year.
The Competition Authority recently launched a phase-two investigation of the takeover and has until January 26th to give a ruling. It does, however, have the discretion to give its decision before that deadline.
Mr O'Brien, who was a guest speaker at the First Step Business Success Awards in Dublin yesterday, confirmed that his Communicorp radio group was in negotiations with the Competition Authority over a mechanism for the sale of FM104, which he is being asked to sell to dilute his radio interests in the capital.
"I'm not sure how that will happen but there has been plenty of interest shown in FM104," he said.
In July, Mr O'Brien agreed to buy Today FM, Highland Radio and FM104 from Emap for €200 million.
This represents 13.8 times their projected earnings before interest, tax, depreciation and amortisation for the year to the end of March 2008 and is the biggest multiple paid for Irish radio assets.
Industry analysts were surprised that Mr O'Brien was willing to pay so much for the stations.
Mr O'Brien already controls national station Newstalk and Dublin-based 98FM and Spin 103. He is also a shareholder in East Coast Radio in Wicklow and has an interest in a regional youth licence in the south west.
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