UTV Radio
 |
|
| Subsidiary | |
| Industry | Broadcasting |
| Founded | 7 June 2007 (as Beechgrove Trading Limited) |
| Headquarters | Belfast, Northern Ireland |
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Key people
|
Scott Taunton (Chief Executive) |
| Revenue |
 £116 m (2014) |
| Owner | News Corp |
| Parent | News UK |
| Website | www |
Wireless Group Limited, formerly UTV Media, is a broadcasting and new media company based in Belfast in Northern Ireland. The company operates the UK commercial national radio station talkSPORT, Virgin Radio UK, and 16 other radio stations in the United Kingdom and 5 in Ireland.
As UTV, the company formerly operated television channels in Ireland and Northern Ireland, until it sold its ITV franchise to ITV plc in February 2016. The company was required to rename itself as the UTV brand was included in the sale, and adopted the name of a previous acquisition.
In June 2016, Rupert Murdoch's News Corp reached an agreement to buy the company. The sale was completed in September 2016. Prior to the acquisition, Wireless Group was a constituent of the FTSE SmallCap Index.
The current UTV Limited (originally Ulster Television plc), which began in 1959 as an ITV franchise holder in Northern Ireland, purchased ISP Direct Net Access in March 2000 for £4.4m, rebranding it as UTV Internet and later UTV Connect. The service expanded into telephone market under UTV Talk in August 2004 and also provided broadband and fibre optic packages for Northern Ireland, the Republic and the rest of the UK. The service was sold to Rainbow Communications and Vodafone Ireland in 2014.
The company also set up an online car dealership UTV Drive, created in partnership with Abbey Insurance, which was sold in 2014.
Further expansion took place with the move into radio, starting in Cork with 96FM and C103 in 2001. Further acquisitions were undertaken over the next decade, with the largest investment being the purchase of The Wireless Group in 2005 for £97m, boosting its radio portfolio with additional local stations, digital radio multiples and national station TalkSPORT. In 2005, the group also launched its first station, U105, which broadcasts to the Belfast area, and purchased Juice FM in Liverpool .
With the expansion, turnover increased, with 2005 being up 46% on 2004, pre-tax profits rising by 12%, and employment up by 500 people to more than double the figure in the previous year. In 2006, total sales were £113.6m of which the radio division accounted for 54%, television 37% and 9% from new media. 48% of operating profits were earned in the radio side of the business, with 47% derived from television and 5% from new media.
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Wikipedia