Local Radio Company receives £1.25m takeover bid

The Local Radio Company has received a £1.25m cash takeover bid from Cornwall-based radio group UKRD.

The Local Radio Company, which owns 20 local stations around the UK, is one of the few remaining publicly listed radio companies in the UK.

Trevor Smallwood, chairman of UKRD, said: “We believe the offer represents an attractive premium over recent trading levels and is in the best interests of Local Radio Shareholders as a whole.

“The combination of UKRD and Local Radio will result in a stronger player in the local radio sector throughout the UK and an expanded service offering to listeners.”

The move is an indication of possible further consolidation in the radio market, which last year saw Global Radio complete the purchase of Chrysalis Radio and Gcap Media, while German publisher H Bauer acquired Emap Radio.