Congratulations to the share holders of Isle of Wight Radio Holdings Ltd, as a surprise announcement has just appeared on the radio station’s Website.
In amongst the talk of combining media assets, it says “Media Sound Holdings acquiring 100% of IOW Holdings in an all share agreement.”
We contacted Claire Willis, the station’s Managing Director and she claims it’s a merger, “and by no means a take over.”
Media Sound Holdings currently operate four other radio stations – Arrow FM; bright FM; Sovereign FM; Splash FM – and are head-quartered in Worthing.
Their intention is to have the deal completed by early November.
The deal includes the Isle of Wight Beacon magazine which IW Radio acquired in July 2011.
Claire Willis said in the article, “This deal will allow our five radio stations to continue to deliver great local radio whilst benefiting from economies of scale. In addition, we have some very exciting plans to expand both our events and magazine activities.”
Any potential impact on jobs isn’t mentioned, but she told On The Wight, “No changes to day to day business here on the island.”
Best of luck with it to all of them, Claire said, it’s “very exciting for all concerned”.
