Foot Anstey Completes Media Treble
Leading media law experts Foot Anstey have completed the sale to Portsmouth Football Club of The Quay radio station in Portsmouth for client UKRD Group Limited – their third significant corporate transaction for the company in the past three months.
The transaction also involved the acquisition by UKRD of Portsmouth FC’s interest in Quadrant Media, which owns the Spirit FM station in Chichester.
The deal follows the disposals of the Isle of Wight Radio, Arrow FM (Hastings) and Sovereign Radio (Eastbourne) stations earlier this summer and form part of a restructuring undertaken by UKRD following its acquisition earlier this year of a majority interest in AIM-listed radio station group The Local Radio Company plc.
Redruth-based UKRD, which was awarded 2 STAR accreditation by Best Companies earlier this year, own and operate commercial radio stations across the country, including Pirate FM, together with a series of web-based businesses developed to complement their FM, AM and DAB broadcast activities.
Foot Anstey has also been working with UKRD on the proposed de-listing from AIM of The Local Radio Company plc. The proposals were approved by shareholders at an EGM on 22 September.
William Rogers MBE, Chief Executive of UKRD Group Limited said: “It is to our real benefit that we can call upon a team of lawyers with a national reputation in the media sector right here in the South West. The team’s knowledge and experience has shone through during their work to date and we look forward to continuing our relationship with Foot Anstey on the development of the UKRD Group.”
James Evans, partner at Foot Anstey said: “We are delighted to work with William and his team at such an important time in their company’s development. A firm wide group of corporate, employment, property, tax and pensions specialists have provided comprehensive support and advice over the past quarter to ensure each transaction has completed within the desired timescales.”
Foot Anstey’s nationally recognised media team acts for three of the four largest regional newspaper publishers in the UK – Northcliffe Media Ltd, Johnston Press PLC and Trinity Mirror PLC as well as high profile names such as Which? Magazine and Twofour.
Published 15/09/2009
