The industry has been abuzz with rumours that Sunrise Radio has beaten rival bids to bag the Club Asia licence.

Whilst BizAsia.co.uk cannot confirm the speculation, sources close to the administration process have given us the strongest hint about the winning bid.

Administrators Mazars currently have been unable to announce anything due to legalities.

Furthermore, at a Bhangra music awards event last night, Sunrise Radio’s Tony Lit refused to let on anything about Club Asia. When prompted by BizAsia.co.uk, he said he was waiting for news about the winning bid just like others were. So could he be playing it safe due to contractual reasons or is he really unaware of the outcome?

One thing is for sure, Mazars had confirmed to us that it was in exclusive talks with one “preferred bidder”. Advanced talks between media regulator Ofcom and the “winning bidder” have also taken place.

If Sunrise Radio (or another buyer) does takeover, the change could be in place as soon as the end of this month.

It is likely the new owner of the station will re-brand Club Asia, with a new name. A name that has been doing the rounds is ‘Buzz Asia’, similar to the existing and now tarnished ‘Club Asia’.

Keep it with BizAsia.co.uk for more exclusive newsbreaks.