Hurley’s scoops up rival radio stations

| 08/11/2015 | 9 Comments

CNS Business(CNS Business): Hurley’s Entertainment has expanded its media empire with the purchase of two radio stations from Paramount Media. Coming on the heels of the firm’s purchase, with the help of Dart financing, of the television channel Cayman27, Hurley’s announced Thursday that it had acquired Vibe and Spin FM, subject to approval by the Information and Communications Technology Authority (ICTA).

The newly acquired stations are added to Hurley’s existing stations, Rooster and Z99, and despite the similar target audiences of Z99 and Vibe, owner Randy Merren said he had no plans to merge or drop any of the stations in the near future.

All four stations will continue broadcasting under their current names, he told CNS. Merren said there would be some minor changes but the acquisition, which had been in negotiations for several years, is more about marketing and advertising.

“This purchase will further establish Hurley’s position in the radio market and enable us to benefit from the growth in radio advertising. The two radio stations will complement our existing radio and newly acquired television stations, enabling deeper inroads with advertisers across all platforms,” Merren said in a release. “These recent acquisitions put us in a prime position to uniquely cater to the radio and television needs of the Cayman Islands market with a wide variety of quality programming across the board,” he added.

Kenny Rankin, Managing Director of Paramount Media, confirmed that the acquisition was completed after more than three years of ongoing discussions.

Subject to ICTA approval, the sale be a consolidation in what is a very competitive environment. There are 17 FM radio stations broadcasting in Cayman, as well as the Weather Channel, according to the ICTA website. Three of those are independent religious or Christian based radio, four belong to government and one is a college station. But with the exception of Star, which is owned by Interactive Broadcasting and Media, the remaining commercial stations, if the acquisition of the paramount stations is approved, will be in the hands of Hurleys and DMS Broadcasting, which also has four stations.

List of FM broadcasting stations in the Cayman Islands

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Category: Local Business, Media

Comments (9)

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  1. Anonymous says:

    Perhaps Dart can clean up the radio stations a bit. I knew there was a reason I stopped listening to Z-99 and lo and behold I was reminded why…. earlier this week as I was changing stations I heard Jason Howard of Z99 discussing the colour of his pubic hair. How classy!

  2. D'artagnan says:

    I’ve been saying this from the beginning. Now I get to sit back and say I told you so.
    But I’d rather not be right!!!

  3. Anonymous says:

    The steady pace of assimilation continues. Those who don’t wish to be endoctrinated and set to work and live for the benefit of the New Cayman Order you are strongly urged to leave now.

  4. Anonymous says:

    Can we be absolutely sure that Daddy Dart does not already own the Compass? In any case, he has been a good corporate citizen to date, so how can we begrudge him for being a wise, astute investor deserving of his returns?

  5. jayme says:

    and thats better than 4 families controlling everything or leaving things to this pathetic government wasteland of spending?

  6. Anonymous says:

    more from “Dart Financing”
    Got anything else to sell??????

  7. Anonymous says:

    Curious what kind of outrage it would spark if ever it was revealed that the largest developer on island was behind the purchase of not only the main newspaper in the country but also the TV and radio stations.

    “For nothing is hidden that will not be revealed, and nothing concealed that will not be made known and brought to light.”

  8. Anonymous says:

    Sorry for those stations if Cayman 27 is any example of what is yet to come!

  9. Anonymous says:

    It is just a matter of time until “Hurley’s Entertainment” will be changed to “Dart Entertainment – We Controlling What You See and Hear, All News is OUR NEWS”.

    How long will it be before Cayman Compass becomes “Dart Compass – We Direct Your Life”?

    Not long now, not long, the question is not if, but when will it be admitted?

    You all wanted Daddy Dart, well you got him and he got you in the palm of his hands, the squeeze is coming.

    Sad, Sad, Sad.

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