Guardian Media Group (GMG) said it did not rule out a bid for Capital Radio as the shares in Britain's biggest radio station surged today.
A spokeswoman for privately held GMG, the owner of Britain's Guardianand Observernewspapers, said the group was keen to develop its radio operations.
By 9.16 a.m. (Irish time) Capital Radio shares were 8.5 per cent higher at 477-1/2 pence, pushing up after a Sunday newspaper reported GMG was considering a bid for Capital Radio.
GMG has five radio stations, with its Real Radio stations broadcasting in South Wales, Scotland and Yorkshire. Jazz FM transmits in London and the northwest of England.
The spokeswoman said GMG had spent around £70 million sterling on acquiring stations over the last 20 months and was ready to look around again after integrating Jazz FM, which it acquired last year.