UTV Media switches frequency as Juice FM is sold for £10m

5th Jun 2015 08:09

Broadcasting group UTV Media has reached an agreement to sell its Juice FM radio station to Global Radio Holdings for £10m.The sale of the Liverpool-based radio station remains subject to regulatory approval, UTV said in a statement, adding that the proceeds from the sale will be used to pay off the group's existing debt.In 2014, Juice FM reported revenues of £2.2m and profit before tax of £480,000.UTV said the review of its remaining radio stations was ongoing.UTV shares were up 3.77% to 165.00p at 08:24 on Friday.