The Midlands Radio Group is at present discussing its future at BRMB in Birmingham, following the announcement that it has suspended its shares. Further information on the suspension may be announced later today, with the last price being quoted at 112p. Stations within the group include Trent-FM and Leicester Sound FM.
5pm: It has just been announced that Capital Radio has made a recommended offer for Midlands Radio. The terms of the offer are 130p in cash. Ian Irvine, chairman of Capital says: “The acquisition of Midlands Radio will be a significant step forward in the implementation of Capital Radio’s strategy of taking a leading role in growing the UK radio industry”.
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