More restructuring at TLRC
More radio stations are expected to be sold or closed by TLRC as the company continues to restructure.
A trading update from The Local Radio Company today says restructuring of portfolio and reduction in central overheads [is] continuing, with like for like revenue from continuing operations down by 7.2 per cent to £7.0 million.
Trevor Smallwood, Chairman of The Local Radio Company plc says: "Whilst trading conditions remain difficult and the advertising market remains depressed, the board has taken and continues to take action to restructure the business and reduce its cost base. On balance, the board believes that following the restructuring and with some further operational improvements the Group will be able to operate profitably and benefit from the upturn when it arrives."
It is thought at least four more stations are expected to leave the company portfolio in the near future.