The Wireless Group prepares to float in expansion strategy

Kelvin MacKenzie’s fast-expanding radio company, the Wireless Group, has announced its intention to float and has appointed West LB Panmure to act as advisor and broker.

Kelvin MacKenzie’s fast-expanding radio company, the Wireless

Group, has announced its intention to float and has appointed West LB

Panmure to act as advisor and broker.



The flotation, which could value the company at between pounds 170

million and pounds 200 million, will enable the Wireless Group to

continue its aggressive acquisition strategy. The company has been

expanding rapidly recently with acquisitions including the pounds 47

million purchase of the Radio Partnership and the pounds 22 million

acquisition of the Independent Radio Group. It has added 11 fully owned

and seven partly owned stations across England, Wales and Scotland to

its portfolio.



As well as further acquisitions, MacKenzie plans to add new revenue

streams by developing the group’s new-media offerings.



The Wireless Group was established last year out of TalkCo Holdings, the

consortium put together by MacKenzie to acquire Talk Radio from CLT-Ufa

in November 1998.



MacKenzie said: ’This is an exciting time for the Wireless Group and the

radio industry as a whole. With one of just three national commercial

analogue licences and a host of local stations, the Wireless Group has

successfully established a significant presence in the UK radio market.’



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