UTV Radio will closedown Talk 107 in Edinburgh and hand back the licence to Ofcom, if sales terms with a new buyer cannot be agreed.
The three year old all-speech station was put up for sale last week due to lack of profit and current market conditions.
Also, in an Interim Management Statement released today, the group announced a revenue growth of 6 per cent during the ten month trading period ended 31 October 2008.
UTV also had their say on the recent Channel 4 withdrawal from radio: “As a shareholder in the consortium which won the licence to operate the second national digital multiplex, we were surprised by the majority shareholder C4’s unilateral decision to withdraw from the provision of digital radio services. This decision undermined the business model upon which the consortium’s application was based and, consequently, it would seem unlikely that the multiplex will launch in the foreseeable future.”