The Local Radio Company said Dune FM is a station with an audience of 20,000 listeners, listening for 87,000 hours per week. In the seven months ending 30 April, the station had a turnover of £224,000 and an operating loss of £130,000.
TLRC executive chairman Richard Wheatley said: "We wanted to sell Dune for the sole reason that it was a loss-making station. We have had it for a few years now, but we are always looking at upgrading our portfolio. It's a very small station that is probably run better by a local group."
David Duffy, Niocom's chief executive, added: "It's the first radio station we have acquired which fulfils our brief. We are looking to acquire more radio stations that are already in existence, but being disposed of, that we think we can turn around."
Duffy is also the chief executive of community radio station Cheshire FM.
In 2007, TLRC reported an annual post-tax loss of £8.9m, after writing down the value of its assets by £8.5m. At the time of releasing its 2007 results in December, it said it has identified a number of local radio stations for acquisition.
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