One of the bidders for the radio stations owned by the in-administration group South West Radio Ltd has claimed the successful bidder had an unfair advantage in the bidding process.
Glastonbury Broadcasting Ltd, headed by Ross Hemsworth, has informed Radio Today that he has lodged a formal complaint with both the administrators and radio regulator Ofcom.
The board of the winning bidder, Your Media Communications, includes Nigel Reeve, who was both a director of the individual radio companies and a sales consultant for South West Radio itself.
Ross says he knows he bid "well over the valuation" of the five stations in question, and claims Reeve, as the client of appointed administrators Edwards Symmons in Plymouth, [i]"would have had access to sight of all incoming bids, and may therefore have been able to increase his bid if required, thus giving him a potential unfair advantage in the bidding process"[/i]
South West Radio was mostly run by former Laser Broadcasting Shareholders.
Glastonbury Broadcasting Ltd also enquired as to whether Your Media would sell the two Quay West stations together with Bath FM to Glastonbury Broadcasting, but was told that offers would not be considered.
Yesterday the new group purchased the business and assets of 3TR, Bath FM, Brunel FM and Quaywest FM.
