CN Radio Buys Lakeland Radio

CN Radio Group has announced the acquisition of the remaining 60% of shares in Lakeland Radio Ltd for an undisclosed sum.

Lakeland Radio broadcasts to South Lakeland in Cumbria, which has performed extremely well since its launch in October 2001, generating healthy profits and providing a valuable service for people living within the catchment area.

Commenting on the deal, Jon Hewson, managing director of Lakeland Radio said: “We are delighted to be bringing Lakeland Radio into the CN fold, it fits perfectly with our strategy to build a significant radio group of small and large profitable stations by acquisition and licence award.”

Terry James, chairman of Lakeland Radio added: “Over the past three years, the board, shareholders and staff have worked hard to establish a high quality local radio station. We believe it is now the right time to hand over the reins to CN, who have stood beside us and supported us from the beginning. We wish the management and staff continued success and happy listening to everyone for many years to come.”

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