ECS 66/2019 Merger Adjudication Classical FM

This Adjudication is made pursuant to Section 75 of the Communications Act, 2009 (Comms Act) in the matter of a request for approval of a change in control of the FM radio station Classical FM.

WHEREAS on 18 June 2019, the Utilities Regulation and Competition Authority (“URCA”) having received from TNG Radio Ltd. (the “Acquirer”) and Classical FM Bahamas Ltd. (the “Licensee”) a Simplified Notification Form (the SNF), in which the Acquirer and the Licensee request URCA’s consent to a transaction under which the Acquirer will purchase all of the shares of the Licensee in relation to the ownership and operation of the radio station “Classical FM” (the “Transaction”), has duly deliberated upon the information provided and matters set out in the SNF;