There was a time when FM radio licences in the UK were much sought after - you'd never have seen companies return them to OfCom. But that does seem to be happening more and more these days. The owners of Touch Radio in Banbury and Coventry have said they will close the stations down if no buyer can be found by the end of the year. According to RadioToday, CN Group has warned staff the two stations face closure.
When CN let it be known the stations were up for sale it was thought Absolute Radio might buy the Banbury station in order to extend the reach of its Oxford station JACKfm. It was thought Bauer, Global or Lincs FM Group might buy the Coventry station. It's not clear if CN Group has issued its statement regarding closing the stations because it is pessimistic about the chances of any of those company's making bids, or because it wants to force possible buyers to make a bid sooner rather than later.