Following the June 30th deadline given by UTV Radio to shut or sell Stockport's Imagine FM, the company has issued a statement saying the station will be sold.
The sale follows Ofcom's decision to decline a request to co-locate the studios to a new broadcasting centre in Warrington, which will house Wire FM, Wish FM and Tower FM.
A buyer has not been found, but a significant amount of interest has been expressed from other groups with a view to taking over the radio station as a going concern.
Scott Taunton, UTV Radio (GB) chief executive, said: “We hope very shortly to be in a position to sell Imagine FM as going concern. We feel that this is the best outcome for not only the staff of Imagine FM. But also the station’s listeners and the residents of Stockport.
“Given all the work that is currently taking place to secure the station’s future, it is highly unlikely that UTV Radio (GB) will hand back the license to Ofcom.”