The two largest shareholders in Metro Radio, the Newcastle based commercial radio operator, yesterday announced that they were selling their stakes. Capital owns 18.1% of Metro, and Chrysalis 19.5%. John Josephs, managing director of Metro said the company would prefer the 37.6% holding to go to as wide a range of institutions as possible.
One likely bidder for Metro is Emap, which yesterday made clear that it wants to expand in commercial radio and admitted interest in Metro. The relaxation in media ownership rules could allow Emap to nearly double its share in commercial radio, although it is already the second largest operator in the UK after Capital. Emap last year took over Trans World Communications for £71m.
Media Jobs
Hello. We have downloaded cookies on your device. Some of these cookies are essential for the website to function. Others are non-essential and are used for analytics and advertising.
We need your consent for these types of cookies.
To withdraw your consent or change your cookie choices, please do this through your browser settings.
Otherwise, click OK to accept and continue.
