Shares in TEAMtalk, owner of the TEAMtalk 252 radio station, were trading up this morning at 4.5p. UKbetting has not had any discussions with TEAMtalk's management prior to the announcement of its 4.5p-a-share offer for the group.
UKbetting is a digital betting and sports content business, supplying fixed odds and pool betting. It floated on the Alternative Investment Market in August 2001. Subsequently, it has acquired businesses including the former Trinity Mirror and Press Association site Sportinglife, and Sportal, for which it paid 拢1.
Peter Dubens, vice-chairman of UKbetting, said: "The combination of UKbetting and TEAMtalk represents an opportunity for further consolidation in the sector. UKbetting's experienced management team will work to grow the enlarged group in accordance with a strategy focused on maximising shareholder value."
As well as its radio interests, TEAMtalk makes sports content for distribution on the internet, mobile phones and interactive television.
The TEAMtalk 252 radio station was rebranded to a 100% sports station in March of this year. Prior to this date, it was the dance station Atlantic 252. Despite a dramatic fall in audience share, according to Rajar figures, TEAMtalk claimed it had outperformed its initial targets. In April this year, TEAMtalk announced a 拢9.5m write-off relating to the closure of international operations.
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