It's been confirmed that Jazz FM, which was relaunched on DAB last October, has been sold by TLRC to former chairman Richard Wheatly.
The station was disposed of earlier today for a nominal sum of £1. Wheatly's firm, Jazz FM Investments Ltd., also takes on the obligation to pay the Guardian Media Group, owners of the Jazz brand, almost £200,000.
It has also been revealed that in the period from 1 October 2008 to 31 March 2009, Jazz FM operated at a loss of £733,000.
Jazz is available on DAB digital radio in many regions, including London, the North West and Central Scotland. It can also be heard via the Sky satellite platform.