Reuters has announced its intention to buy London News Radio, the consortium which takes over LBC’s FM and AM frequencies later this year.The international finance and news group was originally part of a failed bid for the London licences when they were re-advertised last year.
The Radio Authority has approved the bid, providing Reuters fulfil the conditions on which LNR was awarded the licence. Earlier this month LNR bought LBC from the receivers, to prevent a gap in broadcasting before it officially takes over the licence. It is thought that the financial pressure of this acquisition may have forced LNR into accepting the Reuters bid. It is likely that LNR will now be based at Reuters’ TV headquarters in Grays Inn Road.
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