ITN and GWR move in at London News
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.GWR, the commercial radio company and ITN yesterday emerged as the new controlling shareholders of London News Radio, Reuters' loss- makingcommercial radio business, writes Mathew Horsman.
The long-expected deal sees Reuters retain a 20 per cent stake in LNR. GWR will take 31 per cent, with ITN taking 29 per cent. The remaining 20 per cent wil be held by Daily Mail & General Trust.
The radio stations, formerly LBC, lost pounds 3.5m in the fifteen months to 31 December 1994, according to GWR. Ralph Bernard, GWR chairman , said his company's exposure was limited to pounds 2.2m, including a maximum of pounds 1.7m of promised further working capital.
Mr Bernard said GWR would bring an understanding of commercial radio while ITN offered big broadcasting expertise as a result of its Independent Radio News operation. The London News AM and FM stations will be relaunched and relocated to the ITN building. It is expected that they will remain "news talk" formats.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments