Johnston Press has today sold its share in Two Boroughs Radio Limited for £1.2 million to the Local Radio Company.
The 33% share in the radio stations based in Burnley, were acquired by Johnston Press as part of the £560 million take over of Regional Independent Media in April 2002.
Last month, former Jazz FM chief executive, Richard Wheatley announced that he was returning to commercial radio at the helm of the Local Radio Company (see Former Jazz FM Boss To Front Radio Investments Buy-Out) and since joining has also acquired a 27.8% share in commercial radio group, GWR for £10.6 million (see GWR Off-Loads Radio Investments For £10.6 Million).
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