UTV Media sells Liverpool radio station for €13.6m
Published 05/06/2015 | 09:03
UTV Media, the parent company of UTV Ireland, has agreed to sell Juice FM, UTV's radio station in Liverpool, to Global Radio Holdings for £10m (€13.6m).
The company said the proceeds from the sale will be used to pay down existing group debt.
For the year 2014, Juice FM reported revenues of £2.2m and profit before tax of £408,000. At the end of last year, Juice FM had gross assets of £603,000.
The strategic review of UTV's remaining UK independent local radio stations is ongoing and further announcements will be made in due course, as appropriate.
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 by £2.5m.
The company owns 13 independent local radio stations in England.