TV firms take stake in radio

Click to follow
The Independent Online
BORDER and Grampian, the regional ITV companies, are among the successful applicants for four new local radio licences. Two will cover Manchester, one Scotland and one will provide information for cross-Channel travellers, writes Gail Counsell.

Grampian is taking a 55 per cent stake in Central Scotland Radio, the winning Scottish application. Another 35 per cent will go to Border and the remaining 10 per cent will be offered for public sale. The company will be chaired by Sir David Steel, a non-executive director of Border Television. Central Scotland Radio will offer 2.3 million people in Edinburgh and Glasgow a mix of talk and music.

The Manchester licences went to Faze FM Radio, a dance music station, and Fortune, an AM band easy- listening channel. Channel Travel Radio will get a restricted licence to provide a mix of travel information and popular music.