- News International is to be a 20 per cent shareholder in the consortium led by former Sun editor Kelvin MacKenzie that is bidding to take over the UK radio station, Talk Radio.
The involvement of News International was made public earlier this afternoon by Leslie Hinton, the executive vice chairman of News International.
Hinton said: "Talk Radio has had a hard time getting established in the UK market but we believe in Mr MacKenzie's concept for the station and look forward to being an investor in it. Kelvin has great energy and professionalism which, when brought to Talk Radio, is bound to be successful - not to mention great fun."
MacKenzie, who last night resigned as deputy chief executive of Mirror Group, is being backed in his bid by venture capital company Apax. MVI venture capital company, which already has a 24 per cent stake in Talk Radio, is another member of the consortium.
The consortium is bidding against four other contenders for the 50 per cent stake in Talk Radio held by the Luxembourg-based CLT.