– Tim Manns, Station Manager at Radio Plymouth Ltd
We have just celebrated our third birthday on-air and I am extremely pleased that ownership of the radio station will now be concentrated locally. Launching any business in a recession as severe as this one was always going to be challenging; the local shareholders have strengthened their support for the concept of a locally-owned and operated broadcast company.
A group of local shareholders has acquired a controlling interest in Radio Plymouth Ltd. Previously the company was majority owned by a London based media company.
Now several of the local shareholders have injected substantial new capital into the business gaining a 64% controlling interest for the local shareholder group of nine individuals.
Radio Plymouth went on-air in February 2010 and broadcasts from studios in Crescent Avenue on The Hoe. It employs a mix of 14 full and part-time staff led by Station Manager Tim Manns. The change of control is subject to formal ratification by media regulator Ofcom.