Jazz FM sold to Wheatly

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.