using website header

Connected: Display Connected: Media Landscape Connected: Regional Connected: AV Consumer Surveys Connected: Direct LinkedIn LinkedIn logo icon Twitter Twitter logo icon Youtube Youtube logo icon Flickr Flickr logo icon Instagram Instagram logo icon Mail Mail icon Down arrow
MediaTel Staff 

UKBetting To Acquire TEAMtalk For £13.7m

UKbetting is to acquire TEAMtalk Media, which owns national speech-based radio station TEAMtalk 252, for approximatly £13.7m.

Earlier in the month TEAMtalk rejected an offer from UKbetting, which valued the company at £10.2. However, after increasing its offer by 33% the digital betting and sports content business now looks set to acquire TEAMtalk's radio and media assets.

The acquisition is still subject to shareholder approval, but TEAMtalk is urging its investors to accept the increased offer.

Peter Dubens, Vice Chairman of ukbetting, said: "The increased offer demonstrates our belief that UKbetting's brands namely Sportinglife and Sportal together with TEAMtalk will make a good match driving further consolidation in the digital sports content market. We can now look to deliver value to both UKbetting and TEAMtalk shareholders."

Chris Oakley, Executive Chairman of TEAMtalk, added: "In the last month we have restructured TEAMtalk, substantially reduced operating costs and explored options for the future both as an independent company and in partnership with other businesses We have concluded that the certainty of the increased offer from UKbetting represents the best route forward for our shareholders."

Earlier in the week, TEAMtalk-owned national speech-based radio station TEAMtalk 252 secured Ladbrokes.com as the lead sponsor of its World Cup breakfast programming (see TEAMtalk 252 Gears Up For World Cup With Ladbrokes.com). According to RAJAR results for the first quarter of 2002 TEAMtalk 252, which launched in February, has a weekly reach of 428,000.

UKbetting: 020 7529 4857 www.ukbetting.co.uk Teamtalk: 0870 128 3333 www.teamtalk.com

Recent Radio Stories from NewsLine Scottish Radio Profits Hit By National Advertising Dip Radio Authority To Offer 12 New FM Licences In 2003 Heart 106.2 Appoints New Marketing Controller

Subscribers can access ten years of NewsLine articles by clicking the Search button to the left of this screen

Leave a comment

Thank you for your comment - a copy has now been sent to the Mediatel Newsline team who will review it shortly. Please note that the editor may edit your comment before publication.