- Nigel Reeve, the managing director of London News Radio, has quit his post following swingeing changes in the management of the operation.
The devolution earlier this summer of programming to ITN and sales to GWR's Opus both significant shareholders in LNR radically diminished Reeve's areas of responsibility, and he resigned to the board on Monday.
"With programming now at ITN and sales at Opus, I feel that I have taken the company as far as I can," he said.
Reeve is thought to be in negotiations with financial backers with a view to launching a new company and creating his own portfolio of radio stations. The company is likely to be a full-service one, bidding for new licences and creating its own sales operation. Reeve would not comment on the speculation.
Reeve has a long history in radio, and joined LNR from Classic FM, where he was on the launch team as the station's first sales director. Before that, he was the managing director of Kent's Invicta, which he quit to set up a radio sales consultancy after a reverse take-over by Southern Radio.
He added: "I have been at LNR for three years, during which time the company has moved from making major losses to close to break-even last year. The changes will be a huge boost for the company, but it is time for me to move on."
As part of LNR's changes, LBC's programming will get a shot in the arm in the shape of new, heavyweight presenters. Its other station, News Direct, will benefit from ITN's sole input, and ITN itself will use News Direct's facilities for its planned 24-hour news channel, rivalling BBC's News 24.