LONDON (Brand Republic) - Kelvin Mackenzie鈥檚 Wireless Group, owner of the Talksport radio station, reported widened losses due largely to the increased spending on the acquisition of rights to sporting events in its bid to compete with BBC Radio 5 Live.
Losses for the full-year to December 31 increased to £34.2m, up from £27.5m for 1999. However, revenues almost doubled to £29.4m.
Shares in the group slid 2.5p this morning to 125p. Their value has almost halved in the last 12 months.
Acquisitions push losses up for Mackenzie鈥檚 Wireless Group
Kelvin Mackenzie鈥檚 Wireless Group, owner of the Talksport radio station, reported widened losses due largely to the increased spending on the acquisition of rights to sporting events in its bid to compete with BBC Radio 5 Live.