Bauer Media is reportedly the leading contender to buy digital radio station Planet Rock, and is also believed to be eying up a possible purchase of Absolute Radio and its London FM licence.
Planet Rock, which is believed to be losing between £200,000 and £300,000 a year, was put up for sale by owner Malcolm Bluemel last year.
A purchase of the digital station would allow Bauer to put all of its rock stations – including Kerrang! – under the Planet Rock banner.
A buy-up of the Absolute Radio assets would enable it to put Planet Rock on FM in London if it decided to rebrand the national music station.
Former Virgin Radio chief executive John Pearson is also bidding to buy Absolute, backed by Time Out investor, Peter Dubens.