The consideration was €200 million in cash and completion of the transaction was subject to approval from the Competition Authority and BCI.

This is the biggest radio deal that has ever been done in Ireland.

This deal has been awarded the "Mid Market Corporate Finance Deal of the Year" in the FINANCE Capital Markets Deals of the Year Awards 2008, and as featured in the June 2008 issue of FINANCE Magazine.

LK Shields Solicitors also acted in the Sale of FM104 to UTV and the Sale of Highland Radio.

Gerry Halpenny, a Partner in the Business Department, led the transaction together with assistance from Jenny McGuire, Associate in the Business Department and colleagues in the firm's Employment, Pensions and Employee Benefits Unit, Intellectual Property and Technology Unit and Commercial Property Department.

Marco Hickey, a Partner in the Business Department, advised on the regulatory aspects of the transaction, and in particular on dealings with the Broadcasting Commission of Ireland (BCI) and the Competition Authority.

Gerry Halpenny commented that "this deal is an excellent result for both Communicorp and LK Shields Solicitors particularly in light of the fact that the transaction documentation was negotiated, agreed and signed within a very short time of Communicorp being chosen as the preferred bidder. We are delighted to be able to assist Communicorp in this important transaction for it and we look forward to continuing our very successful relationship with Communicorp".

June 2008.