The Business Enterprise Fund, which provides finance and support for businesses in the North, granted the former owners of High Peak Radio a loan of £125,000 to safeguard 12 jobs.
The BEF has announced in a press release in June 2021 how the Like Media Group company directors, Ian and Ryan Davies, took the money specifically to safeguard the jobs and maintain the working capital of the radio station.
Matt Wood, investment Manager said: “It was a pleasure working with the High Peak Radio management team to deliver the funding they needed to transform their operation and safeguard jobs.
“The business is set for strong growth and will continue to serve the local community for years to come.”
The High Peak Radio licence, owned by Like Media Group, was sold along with sister services Ashbourne Radio and Imagine in Stockport, to Bauer Media last month.
Ryan Davies, director said: “The loan from the Business Enterprise Fund has allowed us to completely transform our business and bring in new digital opportunities for customers. A new streamlined way of working allows us to grow for the future and ensure we are in a good place for the future.”
This week, Like Media has announced it will be launching new radio stations in Malaga, Mallorca and Malta, along with four new radio stations in the UK.
The Group currently owns Like Radio, Like DAB and POP DAB.