Media group UTV has sold Juice FM, a radio station in Liverpool, to Global Radio Holdings for £10m.
In a statement to the stock exchange, UTV said proceeds from the sale, which is subject to approval from competition authorities in the UK, will be used to pay down debt.
Juice FM reported revenues of £2.2m and profit before tax of £408,000 for last year. It had gross assets of £603,000 at December 2014.
The company also said today that the strategic review of its remaining UK independent local radio stations is ongoing and that further announcements will be made in due course, as appropriate.
