GMG Radio takes controlling stake in Reading 107 FM
Guardian Media Group (GMG) Radio has increased its shareholding in Reading 107 FM to 60.3% from 37.8%. The other shareholder is the Goodhead Group plc, controlled by Reading Football Club Chair John Madejski.
John Myers, GMG Radio Chief Executive, stated:
We were one of the original shareholders in Reading 107 FM and are proud of its achievement to date so it makes sense to increase our stake to a level where we can now offer further management support. There are no plans to change the station’s name or format. We aim instead to increase the level of local output and invest in marketing in order to grow the audience further.
Matt Brady on August 25th 2005 in Business
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