Exclusive: Ofcom approves Lyca radio stations

Media regulator, Ofcom has approved Lyca Media’s sale of all five London radio stations it acquired in February, BizAsia can exclusively confirm.

Lyca Media acquired five stations previously owned by Avtar Lit including 1458AM (formerly Sunrise Radio) and 1035AM (formerly Kismat Radio) after they fell in administration. The stations have been broadcasting under temporary licences, which is the normal procedure after a sale. During this phase Ofcom runs through various checks to ensure the new company is fit to run a station.

Questions were raised last month about Lyca Media’s acquisition of the licences after the Guardian reported that consultant Ketan Somaia who orchestrated the sale was facing a fraud trial. However, with today’s news, it seems Ofcom has cleared the issues and permitted Lyca Media to broadcast as normal.

The two main stations will continue to broadcasting temporarily as Radio 1458 and Radio 1035 until Lyca Media finalise its branding.

Earlier this month, Sunrise Radio’s owner Lit was declared bankrupt. It remains to be seen how Sunrise Radio (on 963 & 972AM) will be affected and how the new directors at the station will recover lost ground.