CN Group sells five radio stations to Quidem

Steve Orchard's new commercial radio outfit snaps up five Midlands stations

Independent regional media company CN Group has sold five Midlands radio stations to Steve Orchard's new commercial radio outfit, Quidem.

The stations, which make up Touch Radio, broadcast to Warwick, Stratford-upon-Avon, Coventry, Rugby and Tamworth areas as Touch FM and Rugby FM.

Quidem, a new company established by former GCap Media executives Orchard and Wendy Pallot to work in the local radio sector, bought Touch Radio for an undisclosed sum with cash coming from a private source.

Orchard, who quit as GCap Media group operations director in January last year after missing out on the chief executive role, said: "Quidem has been formed to acquire commercial radio stations. Lord Carter's Digital Britain report creates a number of significant incentives for this sector to innovate and grow, and our company is well placed to benefit from these exciting new opportunities."

CN Group, which has recently been forced to make a number of staff cuts and consider closing its Barrow-in-Furness print plant, will continue to operate a handful of other radio stations and a string of award-winning local newspapers also in Cumbria.

Last month another new privately backed commercial radio start-up, former Chrysalis Radio chief executive Phil Riley's LDC Midlands, bought five Midlands stations from Global Radio.

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