WLG Wireless Grp

LONDON—News Corp is buying Wireless Group PLC, the owner of the U.K. radio station talkSPORT, for £ 220.3 million ($290.3 million).

News Corp said it "believes that Wireless represents an excellent strategic fit with its existing operations, broadening News Corp's range of services in the U.K., Ireland and internationally."

The publishing company said it would pay 315 pence a share for Wireless Group. Shares in the radio station soared 70% to 314 pence after the announcement.

The acquisition is "a clear sign of our commitment to, and belief in, the United Kingdom as a place to do business successfully and profitably," said News Corp Chief Executive Robert Thomson.

"We plan to leverage Wireless' portfolio of radio and digital audio sports rights, including the Premier League, in the U.K., Ireland and beyond, through News Corp's digital platforms," he added.

News Corp owns Dow Jones, publisher of The Wall Street Journal.

Write to Rory Gallivan at rory.gallivan@wsj.com

(END) Dow Jones Newswires

June 30, 2016 09:05 ET (13:05 GMT)

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