Tuesday, February 5, 2013
FIVE local radio stations in East Anglia have changed hands in a management buy-out deal.
Town 102 in Ipswich, Dream 100 in Colchester, The Beach, which covers Southwold, Lowestoft and Great Yarmouth, Norwich 99.9 and North Norfolk Radio have been acquired by Media Aspect Local from Tindle Radio.
The chief executive of Media Aspect Local is David Lovell who was previously Tindle Radio’s finance director and led a group to buy the stations.
Mr Lovell said: “My team and I are passionate about local commercial radio.
“We truly believe in the strength of these stations and in the staff who work at them. We are very excited at the opportunities ahead and look forward to seeing the stations reach their full potentials.”
Mr Lovell said no jobs would be affected and the stations would retain their current names.
Sir Ray Tindle, owner of Tindle Radio, 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.”
The Tindle Radio Group will continue with radio stations in Jersey, Guernsey and Ireland.
Mr Lovell is a qualified accountant and has more than 20 yearss experience in running the financial side of radio stations.
He was appointed financial director of Tindle Radio in August 2001.