Ofcom not satisfied with YMCG
Ofcom has, for the second time, rejected a request from an administrator to transfer five radio licences to Your Media Communications Group.
YMCG wants to take full control of 3TR, Bath FM, Brunel FM and Quaywest FM but the regulator does not approve of the move.
Director Nigel Reeve [link=http://www.thisisbath.co.uk/news/Ofcom-blocks-radio-station-licence-bid/article-1839224-detail/article.html?]told[/link] the Bath Chronicle : "The Ofcom issues are now much closer to being resolved. YMCG is about to bring in a major investor at the end of February, who will be investing the level of funds necessary for us to develop Bath FM and make it the leading local station in the area.
"We reapplied for the transfer back in December and Ofcom said it had to make a decision within a time-frame.
"We understand that because the funding is not with us for a couple more weeks, Ofcom had to reject the transfer but it has invited use to reapply as soon as the funding is there, which we are of course doing."
Ofcom said they were not satisfied that YMCG would be in a position to comply with all of the conditions included in the licences, and that YMCG should either make another application, hand back the licences or try to sell them.