UTV gets clearance for €13.6m sale of Liverpool radio station
Published 06/10/2015 | 07:40
UTV Media, the parent company of UTV Ireland, has gotten clearance for the sale of Juice FM, UTV's radio station in Liverpool.
The company announced in June that it had agreed to sell the station to Global Radio Holdings for £10m (€13.6m).
UTV previously said that the proceeds from the sale will be used to pay down existing group debt.
The firm has now received clearance for the deal from the UK Competition and Markets Authority. It is expected that the sale will be completed on Thursday.
Northern Irish-based UTV announced in January that it was looking at disposing of some or all of its English radio stations after it upped its estimate for losses at fledgling station UTV Ireland.
UTV Media has revised its loss estimate for UTV Ireland upwards several times since the start of the year.
In June UTV Media estimated that the station could be set to endure losses of €16.3m by the end of the year.