Tindle Radio’s Town 102, Dream 100, Norwich 99.9, North Norfolk Radio and The Beach have all changed hands in a management buyout.
The stations are now owned by David Lovell – Tindle Radio’s Finance Director who has formed Media Aspect Local specifically to create a management buyout.
He said, “My team and I are passionate about local commercial radio. We truly believe in the strength of these five stations and in the staff who work at them; we’re very excited at the opportunities ahead and look forward to seeing the stations reach their full potentials”.
Sir Ray Tindle said: “I wish the management team every success with their venture. I consider this transaction the most likely way to secure the long term future of the five East Anglian radio stations.”
The Tindle Radio Group continues with Channel 103 in Jersey, Island FM in Guernsey and Midlands 103 in the Republic of Ireland under Sir Ray’s ownership.
Tindle has now sold nine stations in total. Bridge FM South Wales in 2007, Dream 107.7 Chelmsford in 2008, Kick FM West Berkshire in 2009 and Delta Radio in 2010.