The management team at Talk Radio, led by managing director Paul Robinson, has submitted a management buyout bid to CLT-ufa, owners of the 62% stake in Talk which is up for sale.
At the last minute, United News & Media (UNM) provided backing for the team by taking a stake in the bid onsortium. UNM owns Express Newspapers and has interests in the Anglia, Meridian and HTV television stations.
Another bidding group, headed by Kelvin MacKenzie, is being backed by Rupert Murdoch’s News International, a rival newspaper publisher to UNM. MacKenzie left his post of deputy chief executive at Mirror Group to bid for Talk Radio two weeks ago (see MacKenzie Leaves Mirror Group To Bid For Talk Radio).
Talk Radio: 0171 636 1089
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