Capital Radio has announced that its offer for Border Television
has been accepted in a deal worth pounds 146 million.
It is believed the commercial radio group plans to expand its national
analogue radio presence across the UK.
Capital already owns 15 stations in London, Birmingham, Cardiff,
Hampshire, Kent, Sussex and Oxford.
Border’s Century Radio brand is managed by Steve King and reaches ten
million people in the North-east, North-west and East Midlands. Century
will provide Capital with a gateway to the North.
Capital Radio Advertising was unavailable for comment on the deal.
Scottish Radio Holdings attempted last week to increase its offer for
Border as part of a hostile bid. But Capital joined the bidding war once
Border advised shareholders to reject SRH’s attempted takeover.
In the last few months, Border has also attracted interest from Clear
Channel, Chrysalis and Scottish Media Group.
An agency source said Capital’s purchase was bad news for the balance of
the radio market. ’I’d rather the company had gone to SRH as Border fits
in nicely with the North-east and North-west interests.’