December 11 2013 Latest news:
Monday, February 4, 2013
Three local radio stations in Norfolk and Suffolk have changed hands in a management buy-out.
Norwich 99.9, North Norfolk Radio and The Beach have been acquired by Media Aspect Local from Tindle Radio.
The chief executive officer of Media Aspect Local is David Lovell who was 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 keep their names.
The buy out also saw the new company acquire Town 102 in Ipswich and Colchester’s Dream 100.
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 Southern Ireland.
Mr Lovell is a qualified accountant and has over twenty years experience in running the financial side of radio stations.
He was appointed Financial Director of Tindle Radio in August 2001,
Two hundred jobs are set to be created after one of west Norfolk’s largest businesses was granted permission to expand its King’s Lynn facilities.