Radio and internet marketing business Radio Lynx has been bought by UBC Media Group in a multi-million pound deal from Music Marketing Services Limited for a cash consideration of £1.6m.
The acquisition was made possible following a deal last month which completed the £11m sale of UBC’s commercial business to GTN. Part of the deal included the return of IntaMedia to UBC, which provides similar services to those of Radio Lynx.
UBC's chief executive Simon Cole told RadioToday.co.uk that UBC will operate Radio Lynx and IntaMedia separately but will take advantage of synergies between the two and will use its increased market share to grow this sector as a whole: "Radio Lynx is a company we have known and respected for many years and I am pleased to bring it and its talented team of executives into our business."
"The team of eight people who work for Radio Lynx will continue to do so," he added.
Radio Lynx was owned and operated by Music Marketing Services Limited, and in the financial year 2008, the service posted revenues of £1,801,625 and an operating profit of £428,073.