TLRC announces that it has issued 410,133
ordinary shares to complete the acquisition of Bath FM. The initial consideration was ?400,000 in cash and the additional consideration in shares is
valued at ?170,205.
Bath FM is the leading commercial radio station in its marketplace with a Total Survey Area of 83,000 adults. In the latest Q4 2005 Rajar figures, the station had an audience of 16,000 listeners per week, listening for 118,000 hours.
Richard Wheatly, Chief Executive of The Local Radio Company plc, said:
‘We are building TLRC by growing our network of truly local radio stations. Bath FM is such a station and is close to 3TR in Warminster and Brunel FM in
Swindon, adding to our portfolio in the South.
‘The station has already benefited from our support and I am pleased that the time spent listening to the station has grown by 6% since we acquired the business. We are looking forward to seeing the station develop further in the future.’