UTV’s strategic review of local radio completed
UTV has completed its review of its local radio stations, putting an end to speculation about any more sell offs.
The company is gearing up towards a future with radio at its core, according to its latest trading update today. Once the sale of UTV Television has been completed, which could happen as early as next month, the company says it will be a focussed radio group with highly attractive, market-leading assets.
UTV, which will change its name soon, is launching three new national radio stations in March on D2 – talkRADIO, talkSPORT 2 and Virgin Radio and has 12 local radio stations in England and Wales. Juice FM was recently sold to Global and will be relaunching as Capital on Monday.
The company will now focus on developing the talkSPORT brand both on DAB and internationally, and says the historically strong cash flow generation of the business is anticipated to continue.
In Ireland, one of the new company’s main objectives will be to “leverage UTV Radio Ireland’s position as the leading local commercial radio operator in key urban areas throughout Ireland by further focus on broadcast and online content. Strong audience delivery will be at the heart of UTV Radio Ireland’s ability to optimise its revenue and profit performance in the fast growing Irish economy”.