Cornish media company completes deal
Published Tuesday, April 21st, 2009
Posted by Nick Eyriey
Editorial director Nick Eyriey is an experienced and respected journalist having spent some 20 years in the local and national press working with newspapers such as The Yorkshire Post, Today, The Sun, and the Mail on Sunday.
Cornish company UKRD Group has sold its majority shareholding in Bristol Community Radio Ltd, which operates ‘Star 107.2 FM Bristol’ Radio Station, to rival Original Bristol FM.
UKRD owns six radio stations, including Pirate FM, and CEO William Rogers explained: “This sale tidies up our portfolio to allow us to focus our energy and drive in a particularly challenging time.
“The company recently broadened its business operations through its software and development operation and new web businesses.
“We are positive about the future and despite the difficult economic conditions UKRD’s Pirate FM was recognised as an “outstanding” company to work for by the Sunday Times “Best Companies to Work For” awards earlier this year.
“Against a challenging economic back-drop for the media sector, our own staff judged us against a set of independent criteria and delivered a verdict which makes me particularly proud.”
The deal was advised by regional law firm Foot Anstey. Partner James Evans said: “This deal demonstrates that some corporate transactions of this nature are still taking place, despite the doom and gloom. We have advised UKRD for many years in all aspects of their business, and helping them in meeting the many challenges media companies currently face.”
Financial terms of the deal were not disclosed.
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