‘Business as usual’ at radio station

LOCAL radio station 96.2 The Revolution has revealed it is “business as normal” — despite financial fears.

Oldham F.M. Limited, the company owned by Breakfast Show host Steve Penk and which runs the Oldham-based station, is proposing a company voluntary arrangement (CVA) — an insolvency procedure aimed at reaching a payment agreement with creditors.

The move will allow the company to reduce its debts without going into administration, but relies on agreement from 75 per cent of its creditors.

John Evington, who manages the station bought by the popular DJ in September 2008, said: “It is business as normal. It’s been a challenging time, like all media companies.

“The station’s listening figures have increased by 500 per cent since the take over and we are delighted with the response from the listeners on the reformat of the station. We have had great support from the advertisers and the listeners.”

The plan was approved during a creditor meeting earlier this month, according to accountancy firm MCR.

A spokesman said: “The full terms of the CVA proposal are confidential between the company and its creditors and therefore cannot be disclosed.

“I can also confirm that under the terms of the CVA, the company will continue to trade and operate as ‘96.2 The Revolution’ going forward.”

Following the axing of Alan Nield, known as “Big Al” to his listeners, from his daytime weekday slot last month over a Remembrance Sunday “silence” row — former Piccadilly Radio presenter Brendan Kearney has taken over the 11am to to 2pm slot.