Global Radio fave to buy Emap radio?

Global Radio is the favourite to buy Emap's radio stations, it has been reported, while Guardian Media Group apparently wants its Magic FM.

The publisher is currently looking at offers for its business-to-business magazines, consumer magazines and radio arms.

Among those understood to have bid for the radio interests, including Magic and Kiss, are GCap, Global Radio and private equity houses.

Today The Times reports Global Radio is now the favourite as it says it has funds to buy the division outright. Emap has been keen to sell the radio division as a whole and by the end of the year.

It may have to be broken up, however, either because of lack of finance or because of regulatory issues.

The paper also reports that Guardian Media Group has made inquiries about buying Magic if the group is broken up. It is said to have told Global and Emap’s bankers of its interest.