Rupert Murdoch’s News International announced yesterday that it would be investing in Kelvin MacKenzie’s bid consortium for Talk Radio. It is to become a 20% shareholder in the consortium, which is the maximum allowed by broadcasting legislation.
MacKenzie yesterday announced that he was leaving his deputy chief executive post at the Mirror Group in order to pursue this radio project (see MacKenzie Leaves Mirror Group To Bid For Talk Radio). The station has been put up for sale by its Luxembourg-based owner CLT-UFA, which controls 62% of Talk.
News International’s involvement in the project represents a return to a partnership with Murdoch for MacKenzie who was previously editor of The Sun.
It is also believed that the Talk Radio management team is about to launch a bid, and is finalising financing.
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