Talksport owner Wireless Group bought by News Corp

Leicester City october 2015 Image copyright Getty Images

News Corp has agreed to buy Wireless Group, the owner of Talksport radio, in a deal worth about £220m.

The 315p-a-share offer represents a 70% premium to Wireless Group's share price at the close of trade on Wednesday.

Talksport owns radio and digital audio broadcasting rights for the Premier League and FA Cup.

News Corp owns the Times and Sun newspapers, the Dow Jones wire service and publishing company HarperCollins.

"We look forward to welcoming Wireless into News Corp's global family of businesses," said News Corp's chief executive, Robert Thomson.

"With its strength in radio, as well as its digital and international growth potential, Wireless will help improve the engagement of our publishing brands, especially those within News UK."

Wireless Group owns a host of other radio stations in Great Britain and Ireland. Its executive chairman, Richard Huntingford, described the deal with News Corp, whose executive chairman is Rupert Murdoch, as "an excellent outcome for all Wireless stakeholders".

He added: "The introduction of a new player with the stature and global media experience of News Corp will be a major boost for the UK and Irish commercial radio industry."

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