It is announced this morning that Hamburg-based Bauer Media is to acquire JazzFM. Financial terms have not been disclosed. Here is the Bauer Media press release in full:
The Bauer Media Group has agreed to acquire Jazz FM – the UK’s leading national commercial radio service for jazz, soul and blues.
Jazz FM is a respected and influential brand, with strong growth potential. The quality of the service, its distinctive personality and popular and respected presenters underpinned its great RAJAR performance with the station now reaching 672,000 people weekly.
Jazz is currently experiencing a resurgence, and Bauer plans to further enhance the specialist offering of the station which is already hugely respected, via its celebration of music of new and classic artists such as Gregory Porter, Ella Fitzgerald, Nina Simone, Kamasi Washington, Ezra Collective and Nubya Garcia.
The addition of another high-quality brand, with its deep music and commercial partnerships, extends Bauer Radio’s audience and its portfolio of pop, urban, and rock stations to a new music genre. Through its cross promotional ability and strong client and agency relationships Bauer Media looks forward to further developing Jazz’s unique offering to advertisers and commercial partners and to growing its high quality, passionate ABC1 audience.
Paul Keenan, CEO Bauer Media commented: “Jazz FM is a much loved, respected and influential brand, with strong growth potential, we look forward to developing it further. Jazz music is seeing an unprecedented resurgence, and this extends us into an entirely new and complementary radio audience.”
He continued, “Jazz’s community of digitally savvy music lovers is thriving and I believe that Jazz FM’s expertise combined with our knowledge and experience in digital and personalised advertising technology such as Bauer’s InStream+ will propel the brand for both listeners and advertisers. We look forward to working with the team to grow the business.”
Jonathan Arendt, Jazz FM CEO said, “Jazz FM is a well-established and trusted brand, curated by passionate and expert presenters and producers – and I’m delighted that it will sit within the Bauer Radio family, where they are respectful and mindful of individual formats and listener groups.”
The Jazz radio business will be managed by Bauer’s Steve Parkinson, Group Managing Director of National Radio.
About Bauer Media UK:
Bauer Media UK reaches over 25 million UK consumers through a portfolio of world-class, multi-platform media and entertainment brands including heat, KISS, Grazia, Empire, Magic and Absolute Radio. It creates and curates entertaining media content that audiences love whenever, wherever and however they want through a multi-channel strategy and a focus on product excellence and audience insight. The result is an exciting array of influential brands, content and talent which provide compelling and engaging advertising opportunities with valuable audiences for UK commercial partners. Bauer Media UK is part of the Bauer Media Group, one of the world’s largest privately-owned media businesses with media assets all over the globe.
About Bauer Media Group:
Over 400 digital products and more than 100 radio and TV stations reach millions of people across the globe. The corporate portfolio extends to include print shops, postal, distribution and marketing services. The Bauer Media Group’s global positioning underscores its passion for people and brands. The message “We think popular.” illustrates the Bauer Media Group’s self-perception as an organisation with a range of popular media, creating inspiration and motivation for its global workforce of some 11,000 employees in 20 countries.