This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Business News Media
UKRD make bid for TLRC
By CMU Editorial | Published on Monday 30 March 2009
Local radio firm UKRD has made an offer to buy The Local Radio Company. The offer follows UKRD’s previously reported acquisition of a 13.5% stake in its struggling rival. The merger would combine UKRD’s six local radio stations with TLRC’s network of 21. TLRC need to raise new funds to tackle a recent financial year loss of £6.9 million, and rumour has it UKRD will use its shareholding to block any other attempts to raise said funds in order to force through its takeover. UKRD chairman Trevor Smallwood told reporters: “We believe the offer represents an attractive premium over recent trading levels and is in the best interests of [LRC shareholders] as a whole”.
