Scottish Radio Holdings said yesterday it had received approaches from a number of parties and was in talks that may lead to an offer, one that could herald the start of a widely expected consolidation.

Shares in Scottish Radio, which earlier this month was the target of a dawn stock market raid from British broadcaster SMG, were up 107-1/2p sterling, or 6.7 per cent, at £17.10, valuing the company at around £564 million sterling (€914.8 million).

Scottish Radio Holdings is the second-largest regional newspaper owner in the Republic. It also owns Ireland on Sunday and a 22 per cent stake in independent radio station Today FM.