Disposal of Central FM Limited

    RNS Number : 8471B
  Local Radio Company PLC (The)
  22 August 2008
   




    Disposal of Central FM Limited

    
22 August 2008: The Local Radio Company Plc ("TLRC") announces that it yesterday disposed of its 64% holding in Central FM for £575,000 in
cash. The holding has been acquired by John Quinn, Chairman of Central FM, who already owns 11% of the station.  
    Central FM is the Radio Licensee serving Falkirk. It has an audience of 40,200 listeners listening for 354,300 hours per week (Source:
Rajar Q2 2008). In the ten months ended 31 July 2008 the Station had a turnover of £721,900 and an operating loss of £32,266 after central
costs. At 30 July 2008 the station had net assets of £244,452
    
 
    For further information, please contact:
    The Local Radio Company                                01494 688205
Richard Wheatly
Alistair Mackenzie
    Landsbanki Securities (UK) Limited                   020 7426 9000
John Craven
Claes Spang
    Aura Financial                                                020 7321 0000
Andy Mills
    James Devas



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