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UKRD has increased its stake in Local Radio Company from 9.9% to 13.5%.
This follows the purchase of a 16% stake in LRC by UKRD chairman Trevor Smallwood – and confirms that UKRD stake was not included in that shareholding. This takes the combined holding to 29.5%. The two parties are likely to be seen as acting in concert so they would have to bid for LRC if the combined stake were taken above 30%.
UKRD owns six local radio stations, following the sale of Star Radio in Bristol to Tomahawk Radio on 2 March 2009.
Smallwood is quoted on RadioToday.co.uk as saying that no discussions have taken place between the two companies.
Shares in LRC held steady at 2p each, which values the local radio operator at £1.44m.
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