Cuatrecasas advised Bauer Media Group, Europe’s leading commercial radio operator, on the acquisition of Media Capital Rádios. Announced on June 8, 2022, the completion of this acquisition marks Bauer Media Audio’s entry into the Portuguese market, expanding its existing audio business into nine countries.
Media Capital Rádios, the leading radio group in its region with a weekly reach of over 4.5 million listeners, will become Bauer Media Audio Portugal. The Group owns four of the ten most listened to radio stations in Portugal, and with the addition of this market leading portfolio, including Rádio Comercial (most popular Portuguese radio station), M80, Cidade FM, Smooth FM and Vodafone FM, Bauer Media Audio’s weekly reach will expand to over 61 million listeners.
The management of the legal aspects of the transaction was entrusted to a multidisciplinary team of Cuatrecasas led by its partner João Mattamouros Resende (Corporate and M&A, member of the German desk), and including partners Joana Mota Agostinho (Intellectual Property, Technology, Media and Communications) and Pedro Marques Bom (Competition and EU Law).
The team also benefited from the support of lawyers Ana Helena Farinha (Taxation), and associates Joao von Funcke, Tania Alves and Francisco Cruz Almeida (Corporate and M&A), Luis Bordalo and Sa (Competition and Community law), Tiago Martins de Oliveira (Tax), and Liliana Almeida de Moura (Work and employment).
This announcement follows Bauer Media Audio’s 2021 acquisitions in Slovakia, Ireland and Finland. The operation in Portugal had been announced in February 2022 and was then pending the usual requirements in this type of transaction, including mandatory regulatory authorizations.
As stated in the official press release issued by Bauer Media Group, “This acquisition is an integral part of Bauer Media Audio’s strategy as it continues on its path to becoming a global audio pioneer in innovative listener and advertiser services. . The Portuguese market is attractive and presents strong growth opportunities, which Bauer Media Audio will foster through its scale and innovation, for which the company is recognized throughout Europe”.