Independent Radio Group has made a £4.5m agreed bid for broadcasting group Allied Radio. IRG was established last year with the intention of creating a new commercial radio group through acquisition of UK commercial radio stations.
IRG will now look to increase the audience levels of Allied Radio’s stations by improvements in programming, supported by research and promotional expenditure with the hope of attracting higher advertising expenditure. Even though Allied’s 1995 figures showed a loss of £1.419 million IRG believes the broadcasting group to have ‘scope for development’. The offer values each Allied Radio share at 3.3p.
Independent Radio owns Q96 FM and Allied Radio stations include Fortune 1458 and Radio Mercury.
IRG: 0161 831 7361
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