Newcastle-based independent radio group, Forever Broadcasting, has sold its Juice Liverpool radio station to Absolute Radio UK for £3.1 million. Forever will realise £1.4 million from the disposal and this will be used to reduce the group’s debt.
Juice Liverpool made an operating loss of £0.76 million in the year ending 30 September 2002 and had net liabilities of £4.02 million at this date. It reaches an average of 145,000 listeners a week, according to the Q2 2003 RAJAR figures.
Forever says that its remaining portfolio of radio stations is showing good prospects for this financial year, with revenues up by 40% in the year to August.
Shares in Forever Broadcasting were up by 6.5% at 24.5p this afternoon, following the news of the sale.
