Shock €10m takeover bid of RTE 2FM by rival with stars plot to ‘save station’

CLASSIC Hits radio are poised to make a €10million offer to buy out crisis-hit 2FM, we can reveal.

The station has written to RTE boss Kevin Bakhurst and Media Minister Catherine Martin to state their intention to make an offer.

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Chief Kevin Brannigan has also vowed to try to bring back some of the top talent that recently walked away from 2FM, including Jennifer Zamparelli, The 2 Johnnies and Doireann Garrihy.

Brannigan is CEO of Bay Broadcasting, the company behind Classic Hits Radio and Radio Nova, and he owns a 46 per cent share in Sunshine Radio.

He confirmed to The Irish Sun that he has written to the RTE DG and Martin to say his company would be willing to snap up the pop station for up to €10m.

Brannigan told The Irish Sun: “2FM has a very valuable position in the marketplace but has been operating in a bubble for years.

“It is being heavily subsidised by taxpayers’ money while it has continued to vastly under-perform in listenership and revenue terms.”

He added: “By buying 2FM off RTE, we can reduce the licence fee and repay the Government some of the millions they have lost on 2FM in the past few years — and continue to lose — and, effectively, save this station.”

The radio boss admits the €10m offer is down on what he would have paid ten days ago — after a meltdown that saw the departure of some of its biggest names.

But he said presenters Garrihy, The 2 Johnnies and Zamparelli — whose departures have been linked to RTE’s new Register of Interests — could potentially return to a new commercially-owned station.

Brannigan said: “We would love to have conversations with those presenters. The bottom line for us is, can they generate an audience. That’s what it’s all about.

“In our present radio stations, we deal with many contractors who are involved in other ventures and that is not a problem for us.

“In fact, the presenters running their own business while presenting with us, seems to work well.”

The Classic Hits boss said his company’s €10m bid took into consideration the fact that 2FM would have to be restructured.

He said: “The staffing level in 2FM is on a completely different level than would be justified, or tolerated, or afforded in the commercial radio sector.

“But we believe 2FM could be made profitable if run with the values and cost structures of the commercial radio sector.”

‘2FM could have a positive future’

Brannigan added: “I would like to state that we are interested in making an offer to purchase 2FM and that we believe the station should be privatised.

“We believe that 2FM could have a positive future, but that its future should be in the private sector and not as a part of RTE.

“We have the industry experience, management ­talent, and the financial backing to make a credible offer to buy 2FM. Our track record speaks for itself.”

‘Lagging behind’

2FM is lagging behind its commercial rival Today FM by over 200,000 listeners per week (764,000 compared to 992,000, JNLR 2024).

On Friday, the station announced its new summer schedule after Doireann, Jennifer and The 2 Johnnies all quit the station.

Aifric O’Connell was unveiled as Garrihy’s replacement.

The late legend Gerry Ryan’s daughter Lottie Ryan and David O’Reilly will be replacing The 2 Johnnies, who are hosted their last Drivetime show on Friday.

Laura Fox has already stepped in after Zamparelli’s shock exit.