EXCLUSIVE: Quaywest radio has new owners after parent put into administration

QUAYWEST 102.4 FM Radio was under new ownership this week after parent company Laser Broadcasting sold the Watchet-based station and four others in its stable.
It follows Laser going into administration last week to avoid a winding-up order which had been filed in the High Court by one of its creditors.
Business rescue specialist Begbies Traynor was called in to sell off the Laser’s assets, which included subsidiary Laser South West, the owner of the five loss-making stations.
Begbies Traynor quickly arranged for property developer John Roberts to buy the five Laser South West stations though his Exeter-based company South West Radio Ltd.
The news will be a blow for Quaywest station manager Dave Englefield, who had put together a rescue deal to temporarily run it along with Bridgwater sister station Quaywest 107.4, with a view to buying both once Laser’s affairs were straightened out.
Mr Englefield created Bridgwater Broadcasting Services to keep the two stations going and had teamed up with Bridgwater firm Southwest Media Consulting.
The other Laser stations sold to South West Radio were Bath FM, Brunel FM, and Warminster-based 3TR, all of which were only acquired by Laser in June of this year.
South West Radio spokesman Paul Roberts, son of John Roberts, said: “We are very excited.
“From a business point of view we really believe that the station can continue to be a vital part of the local community.
“We have some excellent skills already situated in the station and are working closely with the staff to help them out of the tough period that they have experienced recently under the previous arrangement.
“We aim to continue and improve on what works so well, maintaining quality local radio.”
In Bath, the Laser station was also being run temporarily by a local business, Triple Media, which said it was ‘looking after’ the station with a view to purchasing it.
Triple Media chief executive Gary Cottier-Jansen said he been running the station ‘on Laser’s behalf’ for the several weeks and that he still wanted to acquire it.
Other stations owned by Laser are Sunshine 106.2, Sunshine Gold, Sunshine AM, and Fresh Radio. There was no word on their future.

Administrators of Quaywest parent Laser look to sell off radio stations

ADMINISTRATORS have been appointed to Laser Broadcasting, which owns West Somerset station Quaywest 102.4 FM, based in Watchet, and Bridgwater’s Quaywest 107.4 FM.
The Darlington-based parent company applied to High Court, in Leeds, to be placed into administration in order to pre-empt an attempt by a creditor to have it liquidated.
A winding-up petition had been sought by Capital North East No1 Ltd Partnership, a Gateshead-based venture capitalist.
Laser Broadcasting owns seven other stations in the UK, including Bath FM, Brunel FM, in Swindon, and 3TR, in Warminster.
Solicitor Robert Abblestone, of CW Harwood and Co, in Leeds, who presented the winding-up order, said: “Laser has now been placed into administration with immediate effect.
“I cannot comment on what that will mean for the nine radio stations they own.”
However, experts from business rescue firm Begbies Traynor were appointed on Friday as administrators for the failed radio group.
Andy Haslam, of Begbies Traynor, said: “The radio stations will now go under an extended marketing period, where companies can bid for them.
“I understand that Brunel FM will be part of three radio stations in the South West, and two others, which will be sold together as a group.
“We have successfully rescued the radio stations. It is up to the new owners to take it from here.”
The other Laser stations are three Sunshine-branded studios in Ludlow, Hereford and Worcester, and Hereford and Monmouth, and Fresh Radio, based in Skipton, in the North Yorkshire Dales.

Rescue bid for troubled Quaywest radio stations

A BRIDGWATER company has stepped in with a rescue bid for troubled West Somerset commercial radio station Quaywest 102.4 FM and its sister station in Bridgwater, Quaywest 107.4 FM.
Dave Englefield (pictured), one of the founders of the Bridgwater station when it was previously known as BCR FM, has set up Bridgwater Broadcasting Services Ltd (BBS), of which he is a director, to take on temporary responsibility for running the two Quaywest brands.
It follows an application to the High Court by Quaywest parent company, financially-crippled Laser Broadcasting, to be placed into administration.
The Laser application, due to be heard in Leeds on October 24, pre-empted an application by a creditor to have the company wound-up.
Mr Englefield, the Quaywest station director, said: “We are thrilled and delighted to be able to bring the stations back into local hands.
“The radio stations are extremely important to the people of West Somerset and Sedgemoor, and an integral part of the community.
“We have an important role to play for our listeners and the local businesses, who have shown us a huge amount of support and loyalty, which, in turn, gives us a fantastic platform to build on.”
BBS has aligned itself with local media and marketing company Southwest Media Consulting in its bid to help save Quaywest and to ensure that the stations remained locally owned.
Mr Englefield said: “This is going to be a testing, but exciting time for us all.
“Both stations were born in Somerset and we intend to make sure they both continue to thrive and grow.
“We owe it to the public and their continued support to keep their own radio stations on air, and in local hands.
“We are looking forward to the challenge, and will be working hard with the staff to ensure we keep the stations running successfully.”
BBS is expected to keep the West Somerset and the Bridgwater Quaywest stations running while administrators deal with the winding-up of Laser’s affairs.
The Watchet station recently celebrated its 10th birthday, while the Bridgwater one has been on air since 2001.
They were originally independently owned before being sold to Watchet-based Choice Media, and then to Laser Broadcasting in 2006.
More information about the BBS rescue bid is available from Darren Horne or Lawrence Hebron at Southwest Media Consulting by calling 01278 434 231.

Future of Quaywest takes a twist in the High Court

THE fate of Quaywest 102.4 FM, West Somerset’s only commercial radio station, has taken another twist as its parent company applied to be placed into administration.
Laser Broadcasting, which owns nine stations nationwide, was facing a winding-up order in the High Court, in Leeds, yesterday.
But the company is understood to have applied for administration procedures before the court could hear the winding-up order.
Now, the application by Laser is due to be heard in the High Court on Friday, October 24.
The attempt to liquidate Laser was made by one of its creditors, Gateshead-based venture capitalist Capital North East No1 Ltd Partnership.
But Laser, based in Darlington, made a pre-emptive application of its own to be placed into administration.
Watchet-based Quaywest has continued to broadcast, although staff are understood not to have been paid since July, and its website and email facilities have been withdrawn.
Its sister station in Bridgwater, Quaywest 107.4 FM, previously known as BCR FM, has been in a similar position.
Laser Broadcasting’s other seven stations are Bath FM, Brunel FM, three Sunshine-branded stations in Ludlow, Hereford and Worcester, and Hereford/Monmouth, Fresh Radio, in the Yorkshire Dales, and 3TR, based in Warminster.
One of the founders of Laser in 2002 was Nigel Reeve, who was the launch sales and marketing director of Classic FM.
Nobody from Laser was available for comment.

Winding-up order for Quaywest parent could see radio station close

THE company behind West Somerset commercial radio station Quaywest 102.4 FM could be wound up in the High Court next week.
Parent company Laser Broadcasting Group has been suffering financial difficulties, despite operations director Stuart Linnell issuing a strong denial to The Post just five months ago.
As well as Watchet-based Quaywest, Laser runs nine stations nationwide, including a sister Quaywest station in Bridgwater.
Laser faces winding up proceedings after an application by a creditor, understood to be Capital North East No 1 Ltd Partnership, a venture capitalist firm based in Gateshead.
Quaywest continues broadcasting from its Watchet and Bridgwater studios, but may have to close unless an offer is made to take over the licences.
A spokesman for NEL Fundmanagers Ltd said: “As fund managers of the Capital North East investment fund, from which an investment was made in Laser Broadcasting in 2004, we have been working with Laser for many months in an attempt to find a way forward which would allow the company to trade within the terms of our investment agreement.
“However, these efforts have failed to result in a satisfactory outcome and we have therefore reluctantly had to seek a winding-up order against Laser Broadcasting, which will be heard in Leeds on October 14.”
Broadcasting regulator Ofcom said the petition to wind up Laser Broadcasting would be heard by a High Court judge sitting in Leeds on Tuesday, October 14.
A spokesman for Ofcom said: “We are monitoring developments closely.
“The company is keeping us fully informed, and is seeking to ensure the radio stations are able to continue broadcasting in the best interests of their staff and listeners.
“In these circumstances, until the winding-up order is heard by the court next week we are aware that the stations may not be able to fully comply with their format requirements.
“We do not propose to take any formal action against the licensees during this period.”
Darlington-based Laser was formed in 2002, and included among its founders Nigel Reeve, who was launch sales and marketing director of Classic FM.
Three of Laser’s other stations -Bath FM, Brunel FM, in Swindon, and Warminster-based 3TR - were only acquired from The Local Radio Co less than six months ago.
Laser also owns three Sunshine-branded stations in Ludlow, Hereford and Worcester, and Hereford and Monmouth, as well as Fresh Radio, in the Yorkshire Dales.
Nobody from Laser Broadcasting was available to comment.

Eviction threat for Quaywest over two years of unpaid rent

WEST Somerset radio station Quaywest 102.4 FM could be evicted from its harbourside studios in Watchet for failing to pay rent on the building.
The station, owned by Darlington-based Laser Broadcasting, has not paid its landlord, West Somerset Council, for the past two years.
The rent was fixed at a nominal £50 a week by the council while the station’s East Wharf location was to be redeveloped, with Quaywest assured of being re-homed once the new development was completed.
But Laser has not paid the council since 2006 and now the authority is taking legal action to recover the money which could end with Quaywest’s eviction.
In addition, the radio station is understood to be in arrears with its business rates, while staff are said not to have been paid since July, and its internet presence has been on and off at different times.
The Post reported in April how Quaywest was battling for its future in the face of financial troubles which were afflicting Laser, although the company strongly denied at the time that it was in trouble.
Council corporate information officer Tom Bown said: “Quaywest has not paid the council any rent since 2006, despite efforts to get them to do so and assurances by the station that it would.
“We feel it is not fair this company is expanding on a national level at the expense of the local taxpayers in West Somerset.
“With regret, we have been left no option other than to take legal action.”
Laser Broadcasting owns eight other stations around the country, including a sister Quaywest station in Bridgwater, formerly called BCR FM.
The others are Bath FM, Brunel FM, three Sunshine-branded stations in Ludlow, Hereford and Worcester, and Hereford/Monmouth, Fresh Radio, in the Yorkshire Dales, and 3TR, based in Warminster.
One of the founders of Laser in 2002 was Nigel Reeve, who was the launch sales and marketing director of Classic FM.
Nobody from Laser was available for comment.

Radio station battles to survive parent company's financial woes

STAFF at West Somerset’s commercial radio station, Quaywest 102.4 FM, were this week putting a brave face on its parent company’s financial troubles which threaten its future.
Both Watchet-based Quaywest and its sister Bridgwater station, formerly BCR FM but rebranded as Quaywest 107.4 FM, are owned by Laser Broadcasting, which has its headquarters in Darlington.
The West Somerset Free Press recently reported on how Quaywest’s Watchet telephone and fax lines had been lost for several days and listeners could only contact the station by email.
The station has also been without a website for several months - although it can still be heard over the internet – and staff had received late payments of wages.
Now, The Post has discovered that Laser Broadcasting has had a county court judgement entered against it for a £34,147 unpaid debt.
And a High Court petition for the winding up of one of Laser’s companies has also been presented by the Commissioners for HM Revenue and Customs.
The county court judgement was made in Leeds on March 17, and the winding up petition went to the London Companies Court on April 9.
The Revenue was seeking to wind up Fresh Radio Ltd, which Laser bought for more than £1 million only a year ago.
Laser also owns also owns Sunshine 855 in Ludlow and Classic Hits in Hereford and Worcester among its portfolio of six stations.
The move came after some staff at Fresh Radio quit amid claims they had not been paid. Staff at other Laser-owned companies around the country had also complained of late salary payments.
The problem of telephone, fax, and broadband connections being cut off has also struck a number of Laser’s stations.
In March, Fresh Radio suspended its live broadcasting in Skipton for several days and instead played a continuous loop of pre-recorded music.
The Post was this week twice told that Laser operations director Stuart Linnell would make a statement on the company’s position, but he had not done so at the time of going to press.
However, Mr Linnell has told other newspapers that Laser was forming a new company to run Fresh and was working hard to settle its problems and looked forward to a positive future.
Laser, which has invested £3.5 million in its stations in a 12-month period, has also set itself a target of owning 15 stations in three years.