TalkCo Settles With CLT On Price For Talk Radio

TalkCo, the group set up by Kelvin MacKenzie to buy Talk Radio, has finally settled a price with the station’s owners CLT-UFA, it has just emerged. The protracted discussions between the two groups (see Speculation Surrounds Future Of Talk Radio) have been over the final value of the station which today has been settled as £24.7 million.

The takeover, which is still subject to regulatory approval by the Radio Authority, will give TalkCo a 63% stake in the station.

It is likely that Talk’s current managing director, Paul Robinson, and presenter Kirsty Young will both leave the station once MacKenzie gains control. Robinson initially led a management buyout for the station but was outbid by TalkCo (see MacKenzie Closes In On Talk).

Commenting on the deal, MacKenzie said: “Radio is a growth medium which is attracting an ever-increasing number of listeners and share of the advertising market. Commercial speech format radio is particularly well-positioned to benefit from this growth”.

Jean-Michel Kerdraon, CLT-UFA executive vice president (radio), said: “We are pleased to have finalised this agreement with TalkCo. This is part of an overall restructuring of CLT-UFA’s interests in order to concentrate its financing efforts on recently launched businesses, such as Channel 5.”

CLT-UFA, Luxembourg: 00 352 421 423 003