Tindle Radio, owners of Midlands 103 in Tullamore, have sold their five UK radio stations in a management buyout, leaving just three remaining.
Tindle Radio Group now compromises of Midlands 103 and two stations in the Channel Islands – Channel 103 and Island FM.
The UK stations, all based in East Anglia, are now owned by David Lovell – Tindle Radio’s Finance Director who has formed Media Aspect specifically to create the management buyout.
He said: “My team and I are passionate about local commercial radio. We truly believe in the strength of these five stations and in the staff who work at them; we’re very excited at the opportunities ahead and look forward to seeing the stations reach their full potentials”.
Sir Ray Tindle said: “I wish the management team every success with their venture. I consider this transaction the most likely way to secure the long term future of the five East Anglian radio stations.”
Tindle has now sold nine stations in total. Bridge FM South Wales in 2007, Dream 107.7 Chelmsford in 2008, Kick FM West Berkshire in 2009 and Delta Radio in 2010.