ources close to BizAsia.co.uk have hinted about a possibility of Sunrise Radio being investigated by the Office of Fair Trading over its recent Club Asia acquisition.
As we know, the matter currently sits between Ofcom and administrators Mazars. According to our sources, the Office of Fair Trading has intervened in the sale of Club Asia, which could be a reason for the ongoing delay in an official announcement from Mazars and Sunrise Radio.
The Office of Fair Trading did not respond in time of filing this article.
Up until now, it all seemed to be looking good for the Litt Corporation with its latest licence win in the London market. It was exclusively revealed on BizAsia.co.uk a fortnight ago that Sunrise Radio has bagged the licence for Club Asia. However since the news flared, it has left many sections of the media and public angry. Some people have left harsh messages on BizAsia.co.uk’s Comments field, for the Corporation.
It currently owns Sunrise Radio, Kismat Radio and Punjabi Radio. The latest – Club Asia, which will be branded to Buzz Asia, as revealed on BizAsia.co.uk, would mean the Litt Corporation having a complete monopoly of the Asian London analogue radio market. It۪s the latter fact, which has left many annoyed. Some listeners expressed their unhappiness about Club Asia being cloned into another “commercial-heavy” Sunrise Radio type of station. Others said it was unfair on advertisers as they will have no choice but to associate themselves with the Corporation even if they were not required to do so in the past.
Its been six weeks since BizAsia.co.uk exclusively broke the news about Club Asia’s administration and whilst its not unusual for the administrators to take this long, it does pave the question as to why it is taking this long when the station has already deposited parts of the funds.
If it does turn out to be true that the Office of Fair Trading is involved then it’s not be the first time, as previously the body has intervened when GCap and GWR radio brands were merged to form Global Radio. As a result of Global Radio’s huge market share, it was forced to sell BRMB (Birmingham), Beacon, Mercia and Wyvern – to investment company LDC Midlands, together with their accompanying station brands and Gold licences.
BizAsia.co.uk will bring you more on this breaking story.