GWR’s, Local Radio Group, has today announced it will purchase the remaining 67% stake of Two Boroughs Radio Limited from Johnston Press, to become sole-owner of the Burnley based station.
The total purchase price, which includes the previously acquired 33% share of Two Boroughs Radio, is reported to be just over £2.2 million.
In June, the Local Radio Group acquired a 33% share of the local Lancashire radio station from Johnston Press for £1.2 million (see Local Radio Company Acquires Share In Two Boroughs Radio).
Two Boroughs had sales of £1.18 million, with pretax profits netting £260,000 in 2003.
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