Sunrise Radio’s two main radio stations have gone into administration, BizAsia can exclusively reveal.
As revealed by BizAsia last night, Grant Thornton UK LLP has been appointed administrators of the stations including Sunrise Radio 1 (1458AM), Sunrise Radio (1035AM), Time FM and a number of other services. Sunrise Radio 2 (Buzz Asia Limited) is the only service not affected.
A statement from Grant Thornton to BizAsia said:
David Dunckley and Nicholas Wood of Grant Thornton UK LLP were appointed as Joint Administrators of the following companies on 13th January 2014:
1. Sunrise Radio Limited
2. London Media Company Limited
3. Kismat Radio Limited
4. Time FM 107.5 Limited
5. Tristar Broadcasting Limited (together the “Companies”)
The Companies trade as the following radio stations with the associated licence numbers listed.
Sunrise Radio 1 (Licence Number: AL000156BA/1)
Sunrise Radio 3 (Licence Number: AL000160BA/2)
Time 107.5 (Licence Number: AL000216BA/1)
Tristar Broadcasting 106.6 (Licence Number: AL000148BA/1) (together the ���Stations�)
Following the Companies�۪ formal insolvencies they are continuing to trade for a short period of time and remain on air whilst we explore potential sale options for the Stations.
Buzz Asia Limited (trading as Sunrise Radio 2) is not impacted by the above administration appointment.
A statement from media regulator, Ofcom on stations going into administration said, “Ofcom is unable to comment on individual cases. If an Ofcom licensee goes into administration or liquidation, Ofcom will liaise closely with the administrator or liquidator, for example, explaining the process for Ofcom�۪s consideration of any licence transfer request that may be made as a result.”