Sunrise Radio Crisis: Lyca to fork out millions?

Telecoms giant, Lyca Mobile is rumoured to be one of the companies to have offered to buy Sunrise Radio Limited, BizAsia has learnt.

According to industry vibes, Lyca Mobile has placed an offer of up to �7 million for the stations that have gone into administration including the flagship stations Sunrise Radio on 1458AM and Kismat Radio Limited on 1035AM.

If true, this will be Lyca Mobile’s first foray into broadcasting. BizAsia attempted to contact Lyca Mobile about the story but did not respond at the time of filing this article.

A consortium led by Dr Avtar Lit and a few other independent stations are also said to be in the running. As revealed earlier this week on BizAsia, some offers have already been rejected by the administrators due to low amounts and/or not submitting sufficient information.

The administrators are yet to confirm the sale of the stations, with an announcement expected within the coming days.