April 21, 2014

Loss-making station Planet Rock for sale

Malcolm Bluemel, the owner of Planet Rock, is reportedly looking for a buyer for his national digital radio station.

He’s ran the station since buying it from GCap Media in 2008, and has since invested £3m of his own money which The Guardian says is losing between £200,000 and £300,000 a year.

Four potential buyers have shown an interest, according to the report, in which Malcolm said: “Digital radio has come of age and Planet Rock is at the forefront of that.

“I have put four and a half years of my life into this and £3m of my own money. Some people might say that I was lucky to have it in the first place, but I am not going to walk away from that lightly.”

One potential bidder could be the new TEAMROCK service started by John Myers and Billy Anderson. But Myers told us: “At that level of losses it’s hard to determine value – if any.”

The station has just under a million listeners according to the latest RAJAR figures.

But who could be a potential buyer? Leave your thoughts below.

Posted on Tuesday, September 25th, 2012 at 7:44 am by .

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