The Wireless Group boosted its local radio interests this week after it paid £8.1m for the stock of Forever Broadcasting that it did not already own, writes Wale Azeez.
TWG’s already had a 16.1 per cent stake in Forever, owner of Peak Radio in Chesterfield, The Wolf in Wolverhampton and Tower Radio in Bolton and Bury.
Commenting on the acquisition, TWG chairman and chief executive Kelvin MacKenzie said it “fits well with our strategy of growing a profitable local radio group”.
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A spokesman for the group insisted there was “absolutely no question” of job losses from the stations as a result of the buyout.
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