Losses At Independent Radio

Independent Radio reported losses of £1.8m in the six months to June 30. Losses increased from £749,000 for the 10 months to June 30 1996; turnover increased from £574,000 for the equivalent period last year to £1.69m this year. The company, which has acquired five licences and been awarded one new licence – 102.4 Wish FM in the north-west – has struggled with sales in Scotland apparently as a consequence of the launch of Channel 5 and lower television advertising rates there.

At present the company has three applications before the Radio Authority; further applications are planned as the RA advertises more frequencies. Independent Radio reports that “organisational changes” result in the company entering the second half of 1997 “with a tighter management structure and a much-reduced cost-base”. Chairman of Independent Radio, John Bateson, said the results reflected the “mid-term stage of development” of their stations.

Independent Radio: 01942 777 663