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Media
TLRC complete portfolio review
By CMU Editorial | Published on Thursday 17 September 2009
More movements within The Local Radio Company which, as previously reported, has been busy selling off a load of its local radio stations since rivals UKRD gained majority ownership and put their own top execs in charge.
This time TLRC has ended its joint venture with Portsmouth Football Club. The JV, called Quadrant Media, owned Portsmouth station The Quay, Chichester station Spirit FM and Isle Of Wight Radio. The latter was sold off last month. Now Quadrant will be closed down, with Portsmouth FC taking full ownership of The Quay, and TLRC getting full ownership of Spirit FM.
UKRD’s William Rogers has told Radio Today that this arrangement brings to an end his company’s review of TLRC’s radio portfolio, which presumably means no more imminent station sales or closures.
Rogers: “This brings to a close the portfolio review we have carried out and subsequent actions taken to get the TLRC portfolio as a whole into a profitable state. I am delighted that The Quay is going to a home which is passionate about Portsmouth and I wish them every success. The deal also gives TLRC 100% ownership of Spirit FM and, as a result, tidies up our ownership of all the stations in the portfolio”.
