TEAMtalk In Take-Over Discussions

TEAMtalk has today confirmed that it is holding talks with a number of parties interested in acquiring either the whole or parts of the radio and media group.

Last week TEAMtalk Media, which owns national talk-based radio station TEAMtalk 252, rejected a take-over bid from UKbetting that valued the group at around £10.2 million. However, TEAMtalk, which has valued itself at £18.9m, today embarked on a major redundancy programme and announced that it is putting measures in place to reduce its cash burden.

The group, which has already sold its operations in Sweden and Germany in an attempt to cut costs, announced in April that revenues for the financial year 2001/2 will be significantly below market expectations. The group incurred significant operating losses during 2001 following its acquisition of Atlantic 252, which was relaunched as TEAMtalk 252 in February (see TEAMtalk Buys Atlantic 252).

RAJAR figures for the three months ending March 2002 place TEAMtalk 252’s weekly reach at 428,000, significantly less than the one million or so recorded in the last RAJAR audit of music station Atlantic 252.

Teamtalk: 0870 128 3333 www.teamtalk.com

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