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filler
Friday, 2nd November

UKRD Infinity demerger announced

Ten years after they first joined forces to forge what has become one of the UK's largest independent radio groups, UKRD and Infinity have announced their de-merger. Mike Powell and David Bruce become Chairman and Managing Director respectively of the new Infinity Media Ltd. UKRD Group will continue under the Chairmanship of James St Aubyn with William Rogers promoted to Group Managing Director.


                       

UKRD will concentrate on maximising the potential of its analogue radio stations; Infinity will use its traditional development skills to pursue new analogue licence opportunities - such as the RFM application for Reading - and to grow Internet and DAB digital radio brands, including its pioneering FLIX movie music format.

It was in 1991 that the company then known as UK Radio Developments got together with Mike Powell's recently formed Infinity Radio to launch Pirate FM in Cornwall. Shortly after Pirate went on air in 1992, UKRD and Infinity merged. Powell became Chief Executive of the embryo group and David Bruce (who had previously worked with Powell on the original County Sound and setting-up FOX FM) joined shortly afterwards to manage Infinity as UKRD's consultancy and development arm.

Over the years UKRD has controlled or held significant interests in 22 terrestrial radio stations. When it has disposed of radio interests, it has always reinvested profits into further radio development - as demonstrated by its recent acquisitions of X-Cel, Cat FM and WFM. Its current portfolio of 17 stations are mostly grouped around regional hubs in the Home Counties, Anglia and the South West and include classic stations such as Pirate, Eagle, KLFM and its growing Star brand.

Mike Powell said: 'David Bruce and I are extremely proud that such a fine team of people have worked hard over the years to grow a strong radio group from scratch - creating terrific value along the way for our shareholders. We look forward to UKRD going from strength to strength and are immensely excited about the prospects for the new Infinity Media. We will be making further announcements about Infinity's structure and plans over the next few months.'

UKRD Chairman, James St Aubyn said: 'Mike and David have been at the cutting edge for many years and, through their appreciation of future directions in the radio industry, have an unrivalled record of developing new concepts and station formats. I am sure that they will continue to excel through Infinity in its new guise.

'For UKRD, it is time to concentrate intently on driving forward the performance of our stations which are already on air, and with the talented and committed people working for the group, we look to the future with considerable confidence.'

Related links:
UKRD Ltd website
Infinity Media Ltd website

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