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Media
UKRD makes loan to TLRC
By CMU Editorial | Published on Friday 29 May 2009
Local radio company UKRD has provided its rival, The Local Radio Company, with a £1.5 million cash boost. As previously reported, UKRD now own just over 50% of TLRC, and as such has made the loan to its now sister company on a very favourable basis.
UKRD has let it be known it still aspires to buy out TLRC completely, something which would allow a full merger of the two radio groups, and as such its share offer remains. The company’s other major shareholder, though, Hallwood, who previously tried to block UKRD from getting control of the TLRC, remain unwilling to sell.
Between them, UKRD and TLRC own 26 local radio stations, though TLRC owns the majority.
