Liverpool station sale gives UTV Media huge £10m boost
UTV Media plc has sold off its Liverpool radio station in a deal worth £10m.
The group has agreed to sell Juice FM to Global Radio Holdings Ltd.
Juice FM reported revenues of £2.2m and profit before tax of £408,000 in the year to December 2014. And it had gross assets of £603,000.
A spokesman for Belfast-based UTV said: "The strategic review of UTV's remaining UK independent local radio stations is ongoing and further announcements will be made in due course, as appropriate."
Meanwhile, group revenues at UTV Media plc grew by 7% in the first three months of the year.
It saw overall revenue grow to £29.7m. But UTV Media's revenue dropped by 10% to £4.65m in its Radio Ireland division.
Earlier this year it said losses at new television station UTV Ireland would be double the anticipated sum at £6m.