Two London Radio Stations Put Up For Sale
The sister stations of Sunrise Radio, Time 106.8 and South London Radio 107.3, have been put up for sale.
Avtar Lit, founder of Sunrise Radio, said that the loss-making stations do not fit the Sunrise group’s strategy of concentrating on its national and regional assets.
“For Sale” signs have been placed on the station’s websites saying “Our current owners operate large regional and national services and they feel the community would be better served by a local company running a radio station in the area instead of a large media group.”
Lit told MediaGuardian.co.uk: “”They are good local businesses but they do not fit in with our portfolio.
“Traditionally these stations have always made losses but we have reduced those losses dramatically.
“The days of large companies running a number of local radio stations are gone, simply because the decision-making process is too far removed.”
Both the stations are based in Abbey Wood, south-east London and employ around 15 people each.
The latest RAJAR figures, for the third quarter of 2008, show that Time 106.8 has a weekly reach of 14,000 listeners, while South London Radio 107.3’s reach is 18,000 listeners.
South London Radio 107.3: www.south.fm Time 106.8: www.time1068.com/