| Meridian TV anchorman Andy Craig has sold Newbury’s Kick FM after the Bone Lane station racked up £200,000 losses in two years.
Media baron Sir Ray Tindle, of Tindle Radio Holdings, snapped up the 55% stake owned by the TV newsreader’s Milestone Group, for £490,000, earlier today.
Milestone has retrenched to its Oxford base after incurring heavy losses on its radio stations, including Kick, Kestrel, Reading 107, and Rugby FM. All except Passion have now been sold, and Milestone is valued at just £700,000, with shares trading at 2.7p each.
Andy Craig said Kick FM had been “taking up considerable management resource”, adding that Milestone would now be focusing more closely on other assets, such as the Oxford Courier and Basingstoke Observer newspapers, and local cable channel Six TV.
Kick launched five years ago, but by last year, the station made a loss of £118,712 on income £343,499. The new owner, Tindle Radio Holdings, sprung out of Sir Ray’s local newspaper business, which he started with £300 when he left the Army in 1947. | 
