TLRC ready to purchase more
The Local Radio Company is on the look out for further acquisitions, following a lack of buying activity for almost three years. The board has identified significant opportunities for acquisitive growth, executive chairman Richard Wheatly said today.
"The Board is aware of a number of ongoing market developments and is committed to its strategy to grow revenues through acquisitions which demonstrate clear value," Wheatly said.
'There are a number of opportunities in the UK local radio market for consolidation and the Company's resilient performance in the recent challenging market conditions has underlined our ability to integrate stations under the Local Radio Company's umbrella, enabling them to benefit from operating synergies.
The last station the company bought was KCR in January 2005, which it then sold back to the original owners a year ago. TLRC part owns a small handful of stations including Abbey FM in Cumbria and 107 The Bee in Lancashire.