British media group Global has acquired Riviera Radio, based in Monaco, in a move that returns the broadcaster to one of its original owners.
The acquisition from Grundy Media was announced on Monday 21st July and marks a return to previous ownership, as the Capital Radio Group, now part of Global, was among the station’s early stakeholders. Paul Kavanagh, who has served as Managing Director for a number of years, will remain in his position under the new ownership structure.
“I’m delighted that Global are Riviera Radio’s new owners,” said Kavanagh. “This sees a new chapter of investment, expertise and confidence. It’s exactly what Riviera Radio needs and it’s a fantastic vote of confidence in Monaco and the South of France.”
Global is the UK’s largest commercial radio group and a significant media and advertising company in Europe. It operates several well-known UK radio brands including Capital, Heart, LBC, Classic FM, and Smooth, and has expanded into international markets including Ireland, Spain, the Netherlands, and the United States. The company also owns one of Europe’s largest outdoor advertising networks.
Ashley Tabor-King CBE, Founder and Executive President of Global, began his broadcasting career at Riviera Radio. “We welcome this much-loved station to Global,” he said. “Monaco is a thriving country, as is the French Riviera, and we are looking forward to investing in this market, bringing our resources and teams to build on its heritage to continue to grow this unique service for listeners and advertising partners.”
Riviera Radio was owned for 20 years by Morris Communications, a family-operated media group based in the United States with interests across print, radio and television. In 2022, the company sold the station to Reg Grundy Media, an Australian-founded organisation known for its international television production history.
This new acquisition signals Global’s interest in further developing its international media portfolio, particularly in regions with a strong English-speaking demographic.
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Photo credit: Arno Smit, Unsplash