Metro Radio’s long running bid for the Yorkshire Radio Network looks close to victory following the announcement yesterday that 75% of YRN’s shareholders have accepted Metro’s £15.6m offer. (Newsline 27/9) For the takeover to go ahead shareholders must now approve an alteration to YRN’s articles of association, at present any one shareholder is prevented from holding a stake of more than 10% and Metro already holds 10%. The alteration is expected to take place at an extraordinary shareholders’ meeting on October 19.
Metro Radio: 091-488-3131
YRN: 0742-738-566
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