Cornish based media group in take-over battle victory - June 2009

Cornish based media group in take-over battle victory - June 2009

5:24pm 12th October 2009

Cornish based media group, UKRD has won its takeover battle for AIM quoted company, The Local Radio Company plc, after almost eight weeks of battle.

The company, whose Head Office is based near Redruth at its flagship radio station, Pirate FM, took control of the AIM listed company last week after slugging it out with Hallwood Investments.

The Local Radio Company plc owns and operates 20 radio stations across the United Kingdom and UKRD has now become one of the largest owners and operators of small to medium sized radio stations in the country with a total of 26.

Chief Executive of UKRD, William Rogers, himself a Cornishman, was delighted at the result of the takeover and claimed that both groups working together created the opportunity for a step change in the performance of each.

"This was an excellent result for the group and is transformational in its nature," said Rogers. "We now add some great assets to our portfolio and together with stations like Pirate FM here in the south west, we have a tremendous opportunity to make some serious progress as a media group."

"Whilst trading conditions are clearly difficult for everyone, including us, this take-over does highlight the fact that with recession comes opportunity. As a Cornish based business, this is a real result for us and as far as I know, it is the first time that such a major move into the commercial radio and media sector more generally has been achieved from a Cornish base," said Rogers.

UKRD's portfolio of radio stations now extends from as far north as Sunderland to Land's End, in the form of Cornwall's number one local commercial station, Pirate FM.

 

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