TLRC dispose of Win FM
The Local Radio Company has sold Winchester station 107.2 Win FM to Tindle Radio for £400,000. Richard Wheatly, Chief Executive of TLRC said: "We acquired Win FM as part of our original acquisition of Radio Investments. It has been significantly loss making over the last few years. In our Interim statement we said that stations that did not respond to profit improvement plans would be traded out of the group. This is the first such move and we will continue to review our portfolio. We believe that the price of 2.4 times annual sales is a good one and reflects the considerable underlying value of the Company's assets.
Win FM serves a population of 69,000 adults per week and has an audience of 9,000 listeners per week listening for 70,000 hours per week (source Rajar Q2 2006). In the nine months ended 30 June 2006 the station had a turnover of £126,000, operating losses before central costs of £135,000 and net liabilities of £898,000.