Planet Rock Sold To Kerrang Radio Owner

02/07/2013
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(Classic Rock) Struggling digital radio channel Planet Rock has been bought by Bauer Media for around 1.3m (approx $2.04m) but the move could put Kerrang Radio's future in doubt because the German firm now owns both.

Planet Rock which features on-air hosts Alice Cooper, Joe Elliott and Joe Bonamassa, amongst others had been on the market for some time as former owner Malcolm Bluemel tried to stem losses of approximately 300,000 a year. Much of the cost came from broadcasting charges of around 1m per annum.

Bluemel says: "Planet Rock is going to a great home. Bauer is a business that really cares about building brands and music radio in particular. The station is in safe hands with the new owners and I'm looking forward to following its success."

The channel has around 877,000 regular listeners, fewer than Kerrang's 1.3m but Bauer appear to be committed to digital national radio, meaning Kerrang's FM regional base may be worth less to the firm. more on this story

Classic Rock Magazine is an official news provider for antiMusic.com.
Copyright Classic Rock Magazine- Excerpted here with permission.

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