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Business News Media
UKRD chairman buys TLRC stake
By CMU Editorial | Published on Tuesday 3 March 2009
The chairman of local radio company UKRD, Trevor Smallwood, has bought a 16 percent stake of rival local radio company The Local Radio Company. The share purchase is significant, because UKRD itself bought a 9% stake last month, meaning between UKRD and its chairman they now own a quarter of their rival.
As previously reported, UKRD own 13 stations in the South of England, including Surrey station County Sound and Cornwall’s Pirate FM, while TLRC’s 19 stations are more widely spread across the country. Confirming his personal share purchase, Smallwood told Radio Today: “I saw an opportunity for an ideal investment and took it”.
It’s not thought that UKRD and Smallwoods’ investment in TLRC means there will be any formal hook up between the two radio companies. As previously reported, not only UKRD have been showing an interest in TLRC, and at one point it looked like Talk Sport owners UTV Radio may bid to buy it.
