Congratulations to the Tamil owned Lycatel and Lycamobile Group of companies, who are now the proud owners of radio stations across London.
Under the banner of Lyca Media, the four radio stations previously operated by Sunrise Radio were recently acquired from administrators. They include the popular Asian stations, Sunrise Radio 1 (1458AM) & Sunrise Radio 3 / Kismat Radio Limited (1035AM), and local stations Time 107.5FM & Tristar 96.6FM.
A statement issued by the administrators said, “The Joint Administrators completed a sale of the assets of the Companies to Lyca Media II Limited on 4 February 2014. The Companies operated as Sunrise Radio 1, Sunrise Radio 3, Time 107.5 and Tristar 96.6. Lyca Media II Limited will be operating the Ofcom licences with immediate effect subject to Ofcom approval.”
It has been reported that the new stations will undergo some major re-branding. The new deal as reported by Biz Asia is estimated to be in the region of £2million.
Sunrise Radio 2 (previously known as Buzz Asia on 963 and 972 AM) will remain under the control of litt corporation, and now operate as Sunrise Radio on 963 and 972 AM, carrying the programs of Sunrise Radio 1458.
The telecommunications giant founded by Subaskaran Allirajah are located in London’s Canary Wharf, made their mark providing low cost international calls for South Asian ex-pats and Migrant workers calling home. The company has grown to 17 markets including, UK, Netherlands, Germany, Belgium, Spain, Italy, USA and Canada.