The Broadcasting Commission of Ireland is expected to rule today on a bid by Denis O'Brien to buy Today FM, FM104 and Highland Radio in a €200 million deal.
Mr O'Brien's Communicorp group has an interest in five radio licences in Ireland, including Newstalk and 98 FM, and the BCI must decide if adding three more will affect diversity and competition within the market.
Communicorp's application was given initial consideration by the BCI Board at a meeting on the 3 rdof September. However, the board was unable to make decision pending the provision of additional information from Communicorp.
Following that meeting, further information was sought to provide clarification over BCI concerns regarding media concentration.
A decision is expected after 2pm today.
It is understood Communicorp beat bids from The Irish Times, TV3, UTV and Scottish media group New Wave to secure the deal. UK media group Emap is selling the three stations.
The deal would be subject to approval by the Competition Authority, which has requested further information from the parties involved before deciding if the acquisition can go ahead.
The deal also requires the approval of the Minister for Communications, Eamon Ryan.