The owners of Saga radio in Glasgow have sought to reassure that a review of the station’s operation does not necessarily mean that it is to be put up for sale.
Reports yesterday had the Glasgow station, plus two others in the Saga portfolio, subject to a review by auditors, KPMG Corporate Finance.
While a sale is a possibility, the group’s head of communications, Paul Green, told Spike: “We have appointed auditors KPMG Corporate Finance to conduct a review of our radio division, but this has yet to start, and is an open-minded exercise. This is not about making a decision and then getting a report to back it up. No decision has yet been taken. Other reports have leapt to a final conclusion. A sale is only one possible result.”
He added: “Every so often we do take stock and run the rule over our business.” However, he was not able to cite any other part of Saga Group that had been scrutinised by auditors. The spokesman did say that KPMG had analysed the radio division before, but he could not reveal what recommendations had been made. No-one at Saga 105.2 fm in Glasgow wished to comment.
Saga’s station in Glasgow, and two in the English midlands, are believed to be commercially successful and they boast of a total listenership of 900,000. The group has recently won the licence for a new station in the English north-east, and remain active in considering other licences.
Saga Group provide holiday, insurance and financial services, as well as publications and radio stations, to the over-50s market.