KL.FM bought out by Kiss Radio owners
PUBLISHED: 16:19 05 March 2019 | UPDATED: 17:09 05 March 2019
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Norfolk radio station KL.FM has been sold.
KL.FM is one of ten stations owned by the UKRD Group, which has been purchased by Bauer Media Group UK.
This is Bauer’s fourth acquisition this year – the firm already runs stations including Kiss and Absolute Radio.
Paul Keenan, chief executive of Bauer Media UK and European Radio said: “These stations are an excellent addition to our business and further extend our reach into completely new areas of the UK.”
Other stations included in the buyout are Yorkshire Coast Radio, Wessex FM and Cornwall’s Pirate FM.
Mr Keenan added: “This further demonstrates our long-term commitment and belief in commercial radio which has never been so exciting – for both listeners and advertisers. With record revenues for the third year running, the radio medium has grown by a third in the past five years alone, and with its highest share of listening since 2001, commercial radio is in a stronger position than ever before.”
In addition, Bauer acquires UKRD’s interests in FRS and three local DAB multiplexes including Surrey and North Sussex Limited, North Yorkshire Limited and South West Digital Radio Limited.
William Rogers, chief executive at UKRD, said: “UKRD’s radio stations will make a great addition to the Bauer portfolio and the opportunities that may well present themselves to many of our talented and highly professional people will be greatly enhanced by this acquisition. The inclusion in the deal of UKRD’s interest in FRS ensures that the agency will continue to serve its clients.”