Disposal
June 05 2009 - 2:00AM
UK Regulatory
TIDMTLR
RNS Number : 4010T
Local Radio Company PLC (The)
05 June 2009
5th June 2009
THE LOCAL RADIO COMPANY PLC
("LRC" OR THE "COMPANY")
Disposal of interest in Fire Media Limited
The Local Radio Company Plc ("TLRC") announces that yesterday it disposed of its
80% holding in Fire Media Limited for an initial consideration of GBP1 plus a
deferred consideration, which will be based on sales in the year ending 30th
September 2009 with a minimum deferred payment due of GBP40,000.
The holding has been acquired by Westward Broadcasting Limited, a wholly owned
subsidiary of Triple Media Communications Group.
Fire Media is the Radio Licensee serving Bournemouth. It has an audience of
28,000 listeners listening for 236,000 hours per week (Source: Rajar Q1 2009).
In the seven months ended 30 April 2009 the station had a turnover of GBP216,494
and an operating loss of GBP128,926 after central costs. At 30 April 2009 the
station had net liabilities of GBP863,096.
For further information please contact:
Roxane Marffy/Brett Miller
Ruegg & Co Limited
Nominated Adviser & Broker
Tel 020 7584 3663
This information is provided by RNS
The company news service from the London Stock Exchange
END
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