Litt to sell London stations
A London-based media group has put two of its stations up for sale… by posting a message on their websites.
Litt Corporation, best known for operating the popular Sunrise Radio station in the capital, is offering Time 106.8 and South London Radio 107.3 to potential buyers.
Time, which covers Greenwich and surrounding parts of South East London, and South London Radio targeting Lewisham and Bromley, are co-located at a site in Abbey Wood.
The [url=http://www.time1068.com/?s=c2z428&p=44]message[/url], which has been posted on both station websites, reads: "Our current owners operate large regional and national services and they feel the community would be better served by a local company running a radio station in the area instead of a large media group.
"Therefore [the station] is for sale, and we would welcome the opportunity to speak to any potential buyers for the radio station."
The company has given a deadline of 31 October for interested parties to get in touch.
In this week's RAJAR book, Time had a slightly lower Q-on-Q reach of 14,000 (3 per cent) and a share of 0.6 per cent, while South London Radio was up slightly to just 7,000 (2 per cent) and a 0.6 cent share.
Both stations have had several changes in name and ownership since their respective launches. Time began as community outfit Radio Thamesmead in 1990, before becoming RTM and latterly Millennium FM, settling on the Time brand after being purchased by Litt in 2004.
South London Radio started broadcasting as urban station FLR First Love Radio, becoming Fusion shortly afterwards. It was briefly known as Time 107.3 before being spun off as South London Radio in 2007.