Several years after it was created to win radio licenses, Celador Radio has finally entered the marketplace with the acquisition of Original 106FM in the Solent.
Former chief executive of Tindle Radio, Kevin Stewart has joined the company to oversee the development of the station.
Stewart was one of the founder directors of Tindle Radio and has been involved in the development of the group for a decade, before departing in January.
Stewart told Radio Today: "I'm absolutely delighted to be looking after this valuable asset, and I am certain we can reposition the station and attract the audiences that it deserves within the region."
The sale marks the end of Canadian company Canwest's presence in the UK radio market, having disposed of its three FM licences over the last two months.
Original 106.5 in Bristol was bought a fortnight ago by Tomahawk Radio, a new radio group set up by former Original management team Jonathan Arendt and Richard Johnson. The pair bought Original 106 in Aberdeen in mid-July.