Global Radio’s Midland stations, which include BRMB, Beacon Radio and Mercia, are expected to be sold this week to German-owned Bauer.
Industry insiders expect an announcement imminently that the privately-owned group is to buy the stations, which were put on the market last year.
It was reported Global would sell the stations to Bauer, parent of the Kiss and Magic radio brands, for about £40 million and at the same time is likely to restructure its £200 million debt into a single bank. Midland radio industry veteran and former BRMB programme controller and operations director Mike Owen had put in a bid for the Midland radio businesses.
The stations, which include Heart 106 in the East Midlands, were put up for sale after Global’s £375?million acquisition of GCap last March.