PIccadilly Group bought by Transworld - News bulletin 1989

Radio stations moved quickly from being untradeable independent local companies, owing to strict regulation, to hot commodities. Realising that a more cohesive network would facilitate real progress in national airtime sales and significant operational efficiencies was a real driver to speedy consolidation once the rules were lessened.

By the late 80s, stations were beginning to cluster locally before reaching out to grow their Empires. Midlands Radio (Trent/Leicester Sound/BRMB/Mercia/GEM AM/Xtra AM) was poised to come together with Piccadilly Group, but in came TransWorld (Red Rose Group) which claimed the Manchester crown on condition that Piccadilly’s shareholders rejected the bid for the Midlands.

This 1989 news clip tells of that decisive moment when the foundations for the Northern commercial empire, which later became EMAP/Bauer, were laid.

In those heady days, the Piccadilly Group price-tag was £39m, whilst Manchester United sold that same year for £20m.