KFM – Kildare’s local radio station – has been taken over by existing shareholders/directors CEO Clem Ryan and Seán Ashmore, who have bought out other shareholders.
The sale of the shareholding in the station arises from a decision by a number of exiting Kfm shareholders – among them David Mongey, MD Mongey Communications Naas and Liam Ross of the golf buggy supply company Mr. Buggyman – to realise the value of their shareholding in order to pursue their core business interests.
Kfm CEO Clem Ryan says this latest opportunity represented an unmissable opportunity for himself and Sean Ashmore to consolidate their shareholding in the company: “Kfm’s presence in the vibrant Greater Dublin Commuter Belt makes it one of the most attractive investment opportunities in this sector of the Irish media today. Kildare is a strong commercial centre and one of the country’s fastest growing population areas.
Mr Ryan and Mr Ashmore are both founding members of Kfm. The station has been the subject of a number of bids by various consortia since it went on air in 2004 but Ryan and Ashmore have remained committed to their project, leading a number of various buyouts of shareholders since 2009.
The current transaction valued the station at over €3 million.
“This investment is a great vote of confidence in Kfm, combined with the business expertise of Kfm Company Chairperson Anna May McHugh, Managing Director of the National Ploughing Championships, which makes for a dynamic operation. We are looking forward to building on our station’s success long into the future,” stated Mr. Ryan.