Disposal


 

TIDMTLR 
 
RNS Number : 6528U 
Local Radio Company PLC (The) 
29 June 2009 
 

29th June 2009 
 
 
THE LOCAL RADIO COMPANY PLC 
(the "Local Radio Company'" or the '"Company") 
 
 
Disposal of Arrow FM Limited and Sovereign Radio Limited 
 
 
The Local Radio Company announces that on Friday 26th June 2009 it disposed of 
its 100% holdings in its Arrow FM Limited and Sovereign Radio Limited 
subsidiaries for a total consideration of GBP100,000. 
 
The holdings have been acquired by Media Sound Holdings Limited which owns 
Bright FM and Splash FM. 
 
Arrow FM is the Radio Licensee serving Hastings. It has an audience of 21,000 
listeners listening for 198,000 hours per week (Source: Rajar Q1 2009). In the 
eight months ended 31 May 2009 the station had a turnover of GBP221,998 and an 
operating loss of GBP118,167 after central costs. At 31 May 2009 the station had 
net liabilities of GBP950,358. 
 
 
Sovereign Radio is the Radio Licensee serving Eastbourne. It has an audience of 
26,000 listeners listening for 186,000 hours per week (Source: Rajar Q1 2009). 
In the eight months ended 31 May 2009 the station had a turnover of GBP309,208 
and an operating loss of GBP85,905 after central costs. At 31 May 2009 the 
station had net liabilities of GBP765,435. 
 
 
 
 
For further information please contact: 
 
 
William Rogers 
Chief Executive Officer 
The Local Radio Company plc 
Tel: 01209 3310435 
 
 
Roxane Marffy/Brett Miller 
Ruegg & Co Limited 
Nominated Adviser & Broker 
Tel: 020 7584 3663 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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