Begbies Traynor has sold five of Laser Broadcasting's nine local radio stations after the company was put into administration recently.
Property developer John Roberts, who is also the owner of Exeter-based South West Radio Ltd, has bought Laser Broadcasting South West Ltd, which owned Bath FM, Brunel FM, 3TR in Warminster, QuayWest in Bridgewater and QuayWest in Minehead.
The remaining stations are Sunshine 106.2FM, Sunshine Gold and Sunshine Radio 954, based in the West Midlands and Monmouthshire and Fresh Radio in the Yorkshire Dales. The sale status of these stations has not been made clear.
Laser went into administration after facing a winding-up order from a creditor.
The radio group was established in 2002. Its founders include Nigel Reeve, the launch sales and marketing director of Classic FM and Nick Jordan, a media sales executive, who previously worked at Invicta Radio.
Interestingly, Triple Media Communications, a Bristol-based broadcast development company is still willing to buy Bath FM, even though it has already been taken up. The company wanted to buy the station on its own and not the whole package of five loss-making stations.