The owner of 20 local radio stations around the UK has received a takeover offer from a rival – in what could spell the beginning of a period of consolidation among small-scale local stations.
The Local Radio Company – one of the last-remaining publicly listed radio companies in the UK – has been approached by Cornwall-based radio group UKRD, which is offering £1.25m in cash.
Until now, the consolidation has been among the bigger groups. Last year, Global Radio became the UK’s biggest commercial radio broadcaster when it bought LBC owner Chrysalis Radio and Classic FM parent company GCap Media. Emap Radio was sold to German publisher H Bauer in 2007, and the Scottish Media Group exited the radio industry, selling to the Times of India Group.