The sale of a regional radio station to Bauer Media could pave the way for the return of the 166-year-old Oldham Evening Chronicle in print.
Credible Media sold Revolution 96.2, which has been broadcasting in Oldham since 1999, to Bauer which intends to turn it into part of its networked Greatest Hits Radio network by the end of the year.
- February 16, 2021
- February 2, 2021
- January 28, 2021
Credible said it will now concentrate on the publishing business and that it is considering whether it can return the Oldham Chronicle, established in 1854, to print after three years online-only.
Credible’s managing director Matt Ramsbottom (pictured) said: “Media is a tricky business at the moment, this deal will help us focus on the Oldham Evening Chronicle brand and its digital development plans for the future.”
It originally hoped to get the newspaper back on newsstands “as soon as possible” but after a number of rival titles sprang up in its absence, plans were delayed in favour of developing the digital proposition.
Ramsbottom said: “The radio station has been an exciting experience and is a viable business going forward, as evidenced by previous interest from buyers.
“This deal will allow us to concentrate all our considerable resources into the publishing business. We have exciting plans for the Oldham Evening Chronicle and our magazines, as well as developing our digital platforms further.
“We will remain at our headquarters here in Oldham and invest in securing the future of the Oldham Chronicle brand.”
Revolution 96.2, which was named for Oldham’s role in the industrial revolution, had been owned by Credible Media since January 2014 when it bought the business and broadcasting licence from broadcaster and owner Steve Penk.
Bauer Radio’s group managing director Dee Ford said Revolution 96.2 had “has served and entertained their community valiantly over the years” and said Greater Manchester was a competitive market space, meaning “we’re delighted to be able to take this important step in ensuring our listeners have greater access to this growing brand, as well as creating scale for advertisers”.