Guardian Media Group has confirmed that it is to seek a judicial review of the Radio Authority decision which has cleared the way for EMAP to mount a takeover bid for Trans World Communications (which owns radio stations in the north of England and in Wales). The bid has been cleared despite the fact that it appears to circumvent rules limiting the number of licences which can be held.
EMAP’s offer to buy Owen Oyston’s 22% shareholding is dependent on a formal bid being tabled today. EMAP currently owns nearly 30% of TWC; GMG owns 20%.
GMG believes the Radio Authority should put the matter on hold until it has been legally tested.
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