Newcastle-based independent radio group, Forever Broadcasting, has sold its Juice Liverpool radio station to Absolute Radio UK for £3.1 million. Forever will realise £1.4 million from the disposal and this will be used to reduce the group’s debt.
Forever says that its remaining portfolio of radio stations is showing good prospects for this financial year, with revenues up by 40% in the year to August.
Shares in Forever Broadcasting were up by 6.5% at 24.5p this afternoon, following the news of the sale.