The Board of Directors for the Information and Communication Technology Authority (ICTA) approved the application to acquire Style 96.5 FM radio station by dms Broadcasting.

The public will then have a chance to review the brief and submit comments to the ICTA for two weeks before the Board decides on whether to approve the acquisition according to ICTA General Counsel, Greg van Koughnett.

“Anyone who is interested in submitting a comment is welcome to do so,” said Mr van Koughnett.

“There are three ways to respond – by email, fax and postal mail. We have also accorded the right of reply to the applicant, who will have a chance to respond to any points raised.”

He said the ICTA Board meeting is scheduled for 15 June, which is the earliest possible date that the acquisition can be decided. However, if not all board members can meet, the meeting may need to be rescheduled for the following week.

The pending acquisition of Style 96.5 FM is part of dms Organisation’s strategy to focus on financial, real estate and media industries. Currently, O Bar and The Attic Billard Lounge, which are also owned by dms Organisation, are for sale and the firm recently completed the sale of PoolWorld.

The Vice President of Marketing for dms Organisation, Shannon Wilcox, said purchasing the Style radio station and selling O Bar and The Attic is part of its overall strategy to focus its business on key sectors.

“This potential acquisition fits into that overall strategy,” said Ms Wilcox. “We have been fortunate in that Dave and Angela Martins have allowed us to hire some of their employees in advance of the acquisition. We are hoping the gazette process will go well with the ICTA and we hope that we will have an answer on 15 June.”

Radio personalities Tim Rose and Mia of Style 96.5 FM moved their popular morning radio show to KISS 106.1 FM this week. According to Ms Wilcox, many Style staff members are being considered for openings at dms Broadcasting, which celebrated its first anniversary this month after launching HOT 104.1 FM, KISS 106.1 FM and X 107.1 last year.

There was immediate controversy surrounding the launch of the three radio stations after Radio Cayman and Hurley’s Entertainment lodged complaints of radio interference.

The radio industry has become an increasingly competitive market, which now includes 13 active stations in the Cayman Islands and some industry experts have said the market is saturated, considering the country’s population.

Although the president of dms Organisation would not comment on the pending deal, in a previous interview Don Seymour noted that he expected some consolidation in the industry because of the number of competitors in the market.

If the deal goes through, the Style acquisition will be the fourth radio station for dms Broadcasting.

shurna@caymannetnews.com