Guardian Media Group Radio has taken a controlling stake in Reading 107 FM.

 

The group has increased its shareholding in the Berkshire station from 37.8% to 60.3% with immediate effect.

 

Reading 107 FM, which has a popular music broadcast format, reaches a transmission area of 257,000 adult listeners across Reading and was launched in October 2002.

 

GMG Radio took the opportunity of taking control of the company after Milestone Radio Group decided to sell its stake. The remaining shareholding is owned by the Goodhead Group plc, a company controlled by Reading Football club chairman John Madejski.

 

GMG Radio Chief Executive John Myers said: “We were one of the original shareholders in Reading 107 FM and are proud of its achievement to date so it makes sense to increase our stake to a level where we can now offer further management support. There are no plans to change the station’s name or format. We aim instead to increase the level of local output and invest in marketing in order to grow the audience further” 

 

Reading 107 FM joins GMG Radio’s existing portfolio of five regional Real Radio and Smooth FM stations, which broadcast across London, south and west Wales, Scotland, Yorkshire and the north west of England,

 

Ends

 

*Source: RAJAR/Ipsos-RSL p/e June 2005

 

Further Information:

Alison Halstead – Head of Communications

020 7298 7296 or 07966 243435