One More Thing:Denis O'Brien's proposed €200 million takeover of Today FM, FM104 and Highland Radio meets its first regulatory hurdle on Monday when the Broadcasting Commission of Ireland (BCI) considers the deal at its monthly board meeting.
O'Brien's Communicorp group already has an interest in five radio licences here, including Newstalk and 98 FM, and the BCI must decide if adding three more will adversely affect diversity and competition within the market.
A rejection from the BCI would scupper the deal.
The smart money, however, is on the BCI giving it the green light. The regulator is believed to have been kept in the loop during the recent sale process run by Emap, the UK media group which is selling the three stations.
Emap wants a quick and clean sale and is thought to be confident that the BCI will back the transaction.
O'Brien would then have to sweat over a decision from the Competition Authority, which this week extended the timeframe of its phase one investigation. It could be the end of October before that comes through, or later if the regulator moves to a more detailed phase two inquiry.
It also remains to be seen if the BCI will shortlist separate bids involving Communicorp and Today FM for the multi-city licence which is being offered in the absence of a ruling from the Competition Authority.
Five parties have applied for the multi-city licence and the BCI is expected to draw up a shortlist at its October meeting.
O'Brien will no doubt be happy to step aside from that competition if he gets the go-ahead to take over Emap's three prized assets.
But we imagine both O'Brien and Today FM would prefer to have a definitive answer from the Competition Authority before bowing out of the race for a multi-city licence.
Both have put in strong applications and would be in with a good shout of winning the licence under normal circumstances.
It's a tricky decision for the BCI and don't be surprised if it kicks for touch until the Competition Authority has spoken.
