CLT, the European media group, has made a recommended takeover bid for Chiltern Radio, valuing the company at £16.9m. CLT currently owns 80% of Atlantic 252 and was a former owner of the now deceased Radio Luxembourg. A takeover bid for Chiltern has been expected for some time, although Capital Radio or the Daily Mail and General Trust were considered more likely candidates and may oppose CLT’s bid. Capital currently owns 20% of Chiltern and last week the Daily Mail bought an 18.5% stake in the group from MAI.
GWR PROFITS
The GWR radio group has revealed pre-tax profits of £0.93m for the 6-months to the end of March. This compares with £0.32m the previous year, an increase of almost 200%. Turnover rose from £4.08m to £7.76m.
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