The Independent National Broadcasting Company, which placed the highest bid for the INR2 licence yesterday (£4.01m), has revealed it has the back- ing of White Rose, which failed to win the Yorkshire TV franchise.
The second highest bidder, Independent Music Radio (£1.88m), is a joint venture between TV-am and Virgin.
The huge variations in the sizes of the bids has fuelled speculation that there will be a repeat of the situation that occurred with the award of INR1. The INR1 licence went to Classic FM when the highest bidder, ShowTime Radio, failed to secure the finance. Alternatively, the Radio Authority may reject the INBC bid outright, if it believes the size of its bid is unsustainable.
The lowest bid was placed by National Rock Radio (£211,000), which is backed by CLT and RTE. When the consortium, which owns Atlantic 252, announced its plans to apply for the licence it became the favourite to win the licence, with the industry predicting it would place the highest bid.
Capital Radio failed to submit an application after concluding that a bid might place its profitable local radio stations in jeopardy. Indpndnt Nat.Broadcasting – £4,010,000 0742 305166 / 071-402 8009
Independent Music Radio – £1,883,000 071-288 4347 / 071-229 1282
20/20 Radio – £1,311,000 0582 666001 / 071-379 8664
Score Radio – £701,000 041-306 2202 / 031-557 2003
National Rock Radio – £211,000 071-253 2252
