Takeover offer made for talkSPORT

A shake-up of the British radio industry took another twist today when the owner of talkSPORT radio confirmed it was studying a takeover proposal.

Independent directors of The Wireless Group said they had received an approach that involved chief executive Kelvin MacKenzie and other senior management.

Although no price tag was mentioned by the directors today, media reports said it was likely to value the company at £100m (€145m). Shares in The Wireless Group rose 3%.

In a statement, the independent directors said the proposal was conditional and there was no certainty that a formal offer would be made.

They added: “We will consider any offer on its merits if and when any such offer is made.”