As already exclusively announced by BizAsia, Lyca Media (Mobile) have acquired Sunrise Radio Limited, as confirmed by administrators Grant Thornton UK LLP.
A statement inssued by the administrators said, “The Joint Administrators completed a sale of the assets of the Companies to Lyca Media II Limited on 4 February 2014. The Companies operated as Sunrise Radio 1, Sunrise Radio 3, Time 107.5 and Tristar 96.6. Lyca Media II Limited will be operating the Ofcom licences with immediate effect subject to Ofcom approval.”
It is not known how much the deal was worth but industry speculation is rife that the companies were bought for around �2 million.
Buzz Asia Limited, will now trade as Sunrise Radio on 963 and 972 AM.
More details soon.