Ownership Changes
The station has changed hands several times: Border Radio Holdings was sold to the Capital Group, who then merged with GWR Group in 2004 forming GCap Media. GCap were required to sell the East Midlands station (as the combined firm also owned a number of other stations in the region), and thus Century 106 was sold to Chrysalis Group (GCap retained the other Century stations for a time, later selling them to Guardian Media Group; these stations now broadcast as Real Radio).
In 2007 Heart along with its sister stations The Arrow, LBC and Galaxy were sold to Global Radio. Following Global Radio's takeover of GCap Media, the Office of Fair Trading ordered Global to sell five of its Midlands stations including BRMB, Mercia FM, Wyvern FM, Heart 106 and Beacon Radio. In May 2009, the stations were sold to Orion Media, a company backed by Lloyds TSB Development Capital and Phil Riley. Orion ran Heart East Midlands as a franchise operation under an agreement with Global Radio until Friday 31 December 2010.
Read more about this topic: Gem 106
Famous quotes containing the word ownership:
“They had their fortunes to make, everything to gain and nothing to lose. They were schooled in and anxious for debates; forcible in argument; reckless and brilliant. For them it was but a short and natural step from swaying juries in courtroom battles over the ownership of land to swaying constituents in contests for office. For the lawyer, oratory was the escalator that could lift a political candidate to higher ground.”
—Federal Writers’ Project Of The Wor, U.S. public relief program (1935-1943)