'News: The Local Radio Company plc Acquires "Bath FM" For £0.4m Cash' by Grant Goddard
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News story about the acquisition by UK local commercial radio owner The Local Radio Company plc of local station 'Bath FM' in the Bath market for £0.4m cash, written by Grant Goddard in June 2005 for The Radio Magazine.
![News: The Local Radio Company plc Acquires 'Bath FM' For £0.4m Cash Page 2
©2005 Grant Goddard
Five-year old local commercial radio station 'Bath FM' has been acquired by
The Local Radio Company plc [TLRC] for £400,000 cash, bringing to 28 the
number of stations owned by the company. An additional consideration, of up
to £275,000 in TLRC shares, could be paid to the station’s owners, depending
upon revenue performance in the year to 31 December 2005.
Richard Wheatly, TLRC chief executive, said: “We are building this company
by growing our network of truly local radio stations. Bath FM is such a station
and is close to another of our stations, '3TR' in Warminster, adding to our
portfolio in the South. The station will quickly benefit from becoming part of a
rapidly expanding, focused local radio business.”
Although TLRC claimed in its press release that Bath FM is “the leading
commercial radio station in its marketplace”, the latest RAJAR data shows the
station recording a 6.4% share of listening in the Bath market of 83,100 adults,
compared to 7.3% achieved by 'GWR FM'. The Bath marketplace is led by
'BBC Radio 4' (21.2% share), 'BBC Radio 2' (14.6%), 'BBC Radio Bristol'
(11.5%), 'BBC Radio 1' (11.4%) and 'BBC Five Live' (7.6%). Hours listened to
Bath FM have declined by 18% over the last two years and the station now
reaches only 18% of the population weekly.
[First published in 'The Radio Magazine' as 'TLRC Buys Bath', #689, 22 June 2005]
Grant Goddard is a media analyst / radio specialist / radio consultant with thirty years of
experience in the broadcasting industry, having held senior management and consultancy
roles within the commercial media sector in the United Kingdom, Europe and Asia. Details at
http://www.grantgoddard.co.uk](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
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'News: The Local Radio Company plc Acquires "Bath FM" For £0.4m Cash' by Grant Goddard
- 1. NEWS: THE LOCAL RADIO COMPANY PLC ACQUIRES 'BATH FM' FOR £0.4M CASH by GRANT GODDARD www.grantgoddard.co.uk June 2005
- 2. News: The Local Radio Company plc Acquires 'Bath FM' For £0.4m Cash Page 2 ©2005 Grant Goddard Five-year old local commercial radio station 'Bath FM' has been acquired by The Local Radio Company plc [TLRC] for £400,000 cash, bringing to 28 the number of stations owned by the company. An additional consideration, of up to £275,000 in TLRC shares, could be paid to the station’s owners, depending upon revenue performance in the year to 31 December 2005. Richard Wheatly, TLRC chief executive, said: “We are building this company by growing our network of truly local radio stations. Bath FM is such a station and is close to another of our stations, '3TR' in Warminster, adding to our portfolio in the South. The station will quickly benefit from becoming part of a rapidly expanding, focused local radio business.” Although TLRC claimed in its press release that Bath FM is “the leading commercial radio station in its marketplace”, the latest RAJAR data shows the station recording a 6.4% share of listening in the Bath market of 83,100 adults, compared to 7.3% achieved by 'GWR FM'. The Bath marketplace is led by 'BBC Radio 4' (21.2% share), 'BBC Radio 2' (14.6%), 'BBC Radio Bristol' (11.5%), 'BBC Radio 1' (11.4%) and 'BBC Five Live' (7.6%). Hours listened to Bath FM have declined by 18% over the last two years and the station now reaches only 18% of the population weekly. [First published in 'The Radio Magazine' as 'TLRC Buys Bath', #689, 22 June 2005] Grant Goddard is a media analyst / radio specialist / radio consultant with thirty years of experience in the broadcasting industry, having held senior management and consultancy roles within the commercial media sector in the United Kingdom, Europe and Asia. Details at http://www.grantgoddard.co.uk