Several Irish newspapers and radio stations could come under the ownership of British media group Emap if a bid for Scottish Radio Holdings (SRH) goes ahead.

Market speculation in Britain has intensified about an Emap bid for SRH following a report in Monday's edition of the Scotsman newspaper.

It reported that Emap, which already owns 27.8 per cent of SRH, was preparing a bid for the remainder of the equity. However, sources at SRH yesterday told The Irish Times nothing had been heard officially from Emap at this stage.

Emap has been prevented by stock exchange rules for the last six months from bidding for SRH. SRH is believed to be worth about £320 million (€480 million).

SRH has a long list of Irish assets including radio stations like the nationally franchised Today FM and FM 104 in Dublin. It also owns Cool FM and Downtown radio in Northern Ireland.

Its newspapers include the Kilkenny People, the Nationalist and Munster Advertiser, the Tipperary Star, the Leitrim Observer and Longford Leader. It also owns a long list of local titles in the North.

Emap has little presence in the Republic, although it recently appointed an agent to collect advertising revenue for some of its magazine titles. Sources said while an Emap bid was possible in the short to medium term, the practical effect on existing Irish assets would probably be minimal.