Oak FM has been sold to ATR Media – a company offering online and press services and new to the radio industry.
The sale, for an undisclosed sum, leaves Steve Orchard’s Quidem group with six radio stations including Touch FM in Coventry.
Oak FM is currently made up of two previous stations – Fosseway Radio and the original Oak FM. It relaunched last year after a weekend of playing Queen’s Bohemian Rhapsody non-stop. Presenters include Mark and Twiggy in the morning and Mark O’Sullivan on drive.
ATR, standing for Above The Rest, is based in Derby.
Paul Caplin CEO of ATR Media comments: “We’re very pleased to be entering the commercial radio market in a region where we are actively developing our on-line and press offerings. We see many exciting synergies between our existing media assets and Oak FM. Combining radio, online and local press creates a powerful platform for Oak FM’s future growth”
Steve Orchard CEO of Quidem adds: “Quidem is now able to concentrate on the further development of its core business. Our award winning portfolio of six West Midlands based commercial radio stations is enjoying strong growth, and our independent radio production arm which was recently honoured at the New York Radio Festival also has a great deal of further growth potential.”