A petition to wind up Classic Hits 4FM’s owner Choice Broadcasting has been lodged by the Tax Collector General of the Revenue Commissioners over an unpaid tax bill.
The hearing is expected to be heard by the High Court on January 26th unless the debt can be settled beforehand.
Speaking to the Irish Independent, one company director says that he expects the outstanding tax debt to be cleared and the matter to be resolved before the court date as Bay Broadcasting are to invest €1.5m in 4FM.
Bay Broadcasting was founded in 2007 and is one of the founding shareholders in Radio Nova. It holds substantial shareholding in Choice Broadcasting Ltd and in Star Broadcasting Ltd, operator of Sunshine 106.8 in Dublin. The shareholders of Bay Broadcasting are Kevin Branigan, Mike Ormonde and Tom Anderson.
The BAI is now expected to make contact with the station over the matter.
Classic Hits 4FM, which is based on the Ground Floor of Castleforbes House in Castleforbes Road, Dublin 1, owed Revenue €163,000 in unpaid taxes at the end of 2012, its most recently filed accounts.
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