GWR Sells Isle Of Wight Radio

Commercial radio group GWR has announced that it has sold Isle of Wight Radio to The Local Radio Company for £860,000.

GWR does however retain an interest in the station, which operates one AM radio licence, since it owns a 20% stake in TLRC. TLRC currently owns Spire FM, FCBC (Kettering) and 76% of Cheltenham Radio.

For the year ended 30 September 1995, Isle of Wight Radio made a pre-tax loss of £60,237 and had net assets of £105,986. GWR originally bought the station in 1992 for £258,927.

GWR: 01793 422 700