UKRD's Chairman Trevor Smallwood has bought over 11 million extra shares in The Local Radio Company, taking his and UKRD's share in the company to over 25 per cent.
The 11.5m shares, which were announced on Monday afternoon, were bought for two pence each giving the UKRD boss a 16 per cent stake in TLRC. UKRD bought just over 9 per cent on February 13th and 17th.
Trevor Smallwood told RadioToday.co.uk: "I saw an opportunity for an ideal investment and took it." No discussions have taken place at this stage on the two separate companies working together.
TLRC owns 20 stations around the south and north of England.
UKRD owns County Sound Radio, Eagle Radio, KL.FM, Pirate FM and Star Radio in Somerset.
It was announced today that Star Radio in Bristol has been [link=http://radiotoday.co.uk/news.php?extend.4452.2]sold[/link] to Tomahawk Radio, owner of Original 106.5 in the city.