Capital Radio Disposes Of Small Stations
Capital Radio has this morning announced the sale of Bucks Broadcasting and Sun FM to Radio Investments. The disposal of the stations – Mix 96 and Sun FM – is part of Capital’s strategy to focus on large stations operating in major metropolitan areas.
In a separate transaction, Capital Radio’s 30% shareholding in The Wolf has been sold to Forever Broadcasting for £1.6 million this morning.
The combined net cash proceeds of the deals are £9.5 million.
Capital stock was up 2½p at 1,072p½p at 2:00pm today.
