Management Buyout For The Pulse And Great Yorkshire Gold

In what is billed as the ‘first management buy-out in radio’ The Radio Partnership Ltd, a company set up by Neil Robinson and John Josephs, former chairman and MD of Metro Radio Group has bought Bradford based The Pulse (FM) and its sister AM station Great Yorkshire Gold from EMAP for £4,600,000. The buyout funding has been supported by equity finance from investment capital group 3i, along with contributions from station staff. EMAP Radio is taking a 19.9% equity stake in the new company and will continue to supply some services the stations.

EMAP needed to sell the stations because of new government rules restricting the holding of overlapping licences, and the 15% point limit set out in the 1990 Broadcasting Act. EMAP were told in July that it must reduce its stake in the Bradford licences to below 20%.

The Pulse: 01274 731521