Three national DAB+ radio licences have been put up for sale via the Insolvency Marketplace website IP BID.
The names of the radio stations have not been revealed, but the write-up describes a young national, independent commercial radio group that uniquely targets a particular genre of music and owns 3 national DAB+ licences.
Valuation and Insolvency Agents Williams & Partners Ltd has been engaged to find a buyer for the services, either individually or together.
The website says the business has established its reputation amongst advertising agencies over the last three years resulting in advertising spots from some of the countries best known businesses, as well as key Government advertising and generated sales of c£168,000 in 2020, c£495,000 in 2021 and forecasts between £750,000 and £850,000 of advertising sales in the current year all without expanding its audience numbers.
The three stations have almost a quarter of a million listeners and almost 1.1m listening hours in the latest RAJAR.
The description continues to say the business, assets and licences are being offered for sale because the sole funder no longer wishes to fund the business alone and has not been able to find a co-funder and would prefer a new owner to take over the DAB+ licences, with or without the radio stations which currently remain on air.
RadioToday has contacted the Group for comment.