Wireless Group Expands Its Southern Portfolio

The Wireless Group has today announced the acquisition of Wave 105 FM, the Southampton-based contemporary radio station. In its first deal since floating earlier this year (see Wireless Group Sets Price For Flotation), TWG is to pay £21.3m to purchase the remaining capital, excluding its current 24.6% stake.

The acquisition will complement the group’s existing portfolio of regional stations, which include Yorkshire’s Pulse and the north-west’s Big 1458 AM, by giving it a presence in the lucrative south of England market. A recent report from the Office of National Statistics forecast growth in this region to outstrip the rest of the country in the next five years and its wealthy audience is highly attractive to advertisers.

Wave broadcasts a mix of adult contemporary music and speech to a potential audience of 1.7m and will increase TWG’s local weekly reach by 11%. It is one of a few remaining independent radio stations in the country and is believed to have received interest from both Capital and Scottish Radio.

Despite increasing losses in its recent interim results, the Wireless Group is set to continue its expansion plans, which include increasing its local reach (see Wireless Group Reports Increased Losses In First Interim Results Since Flotation).

Kelvin MacKenzie, the company’s chairman and chief executive said: “The acquisition of Wave represents an important addition to our regional radio portfolio and complements our successful stations in Scotland, the North of England and Wales. We were missing out in the south and now we have begun to fill that gap with a station covering a valuable urban area.”

The Wireless Group: 020 959 7800

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