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UBC Media
- BY: Andrew Hore |
- POSTED: 20/08/2009 |
UBC Media is using some of its cash pile to buy a radio and internet marketing business.
Content-related marketing is the key to UBC’s future, according to UBC chief executive Simon Cole. UBC is paying an initial £1.6m in cash for the business of Radio Lynx, which has been trading for two decades. Clients include Coca Cola, Sainsbury’s and Lloyds TSB.
Radio Lynx generated an operating profit of £428,000 on revenues of £1.8m in 2008. There is potential deferred consideration based on operating profit. A maximum earn-out of £800,000 if operating profits reach £520,000 in the 12 months after acquisition.
UBC’s capital restructuring has been completed so it can pay dividends or make capital repayments if it decides to.
UBC should still have approaching £10m in the bank after the Radio Lynx purchase.
At 4p a share, UBC is valued at £7.81m.
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