Disposal
19 August 2009 - 1:13AM
UK Regulatory
TIDMTLR
RNS Number : 6477X
Local Radio Company PLC (The)
18 August 2009
18th August 2009
THE LOCAL RADIO COMPANY PLC
(the "Local Radio Company")
Disposal of Isle of Wight Radio
The Local Radio Company announces that its Quadrant Media Limited joint venture
with Portsmouth FC has today disposed of its holding in its Isle of Wight Radio
Limited subsidiary for an initial consideration of GBP130,000 plus a deferred
consideration of GBP50,000 payable in February 2010.
The holding has been acquired by Isle of Wight Radio Holdings Limited.
Isle of Wight Radio is the Radio Licensee serving the Isle of Wight. It has an
audience of 33,000 listeners listening for 290,000 hours per week (Source: Rajar
Q2 2009). In the ten months ended 31 July 2009 the station had a turnover
of GBP519,024 and an operating loss of GBP176,521 after central costs. At
31 July 2009 the station had net liabilities of GBP168,542.
For further information please contact:
William Rogers
Chief Executive Officer
The Local Radio Company plc
Tel: 01209 310435
William Vandyk
Astaire Securities plc
Nominated Adviser & Broker
Tel: 020 7448 4400
This information is provided by RNS
The company news service from the London Stock Exchange
END
DISMGGMRKRZGLZM
Local Radio (LSE:TLR)
Historical Stock Chart
From Jun 2024 to Jul 2024
Local Radio (LSE:TLR)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about Local Radio (London Stock Exchange): 0 recent articles
More Local Radio News Articles