Disposal

 

TIDMTLR 
 
RNS Number : 6477X 
Local Radio Company PLC (The) 
18 August 2009 
 

18th August 2009 
 
 
THE LOCAL RADIO COMPANY PLC 
(the "Local Radio Company") 
 
 
Disposal of Isle of Wight Radio 
 
 
The Local Radio Company announces that its Quadrant Media Limited joint venture 
with Portsmouth FC has today disposed of its holding in its Isle of Wight Radio 
Limited subsidiary for an initial consideration of GBP130,000 plus a deferred 
consideration of GBP50,000 payable in February 2010. 
 
The holding has been acquired by Isle of Wight Radio Holdings Limited. 
 
Isle of Wight Radio is the Radio Licensee serving the Isle of Wight. It has an 
audience of 33,000 listeners listening for 290,000 hours per week (Source: Rajar 
Q2 2009). In the ten months ended 31 July 2009 the station had a turnover 
of GBP519,024 and an operating loss of GBP176,521 after central costs. At 
31 July 2009 the station had net liabilities of GBP168,542. 
 
 
 
 
 
 
For further information please contact: 
 
 
William Rogers 
Chief Executive Officer 
The Local Radio Company plc 
Tel: [phone] 
 
 
William Vandyk 
Astaire Securities plc 
Nominated Adviser & Broker 
Tel: [phone] 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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