Cornwall's 105 to 107 Itchy FM - Ofcom Licensing
Cornwall's 105 to 107 Itchy FM - Ofcom Licensing
Cornwall's 105 to 107 Itchy FM - Ofcom Licensing
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o Chris<strong>to</strong>pher Wes<strong>to</strong>n – A serial high net worth inves<strong>to</strong>r in the SME sec<strong>to</strong>r, Chris<strong>to</strong>pher holds 28<br />
investments, across a range of industries including publishing (Infoconomy Magazine) and radio<br />
(Global Radio News) and previously ran a successful business auction business in and from<br />
Par, Cornwall.<br />
o Far Blue CI (Guernsey) Limited – The investment vehicle of Towergate PLC<br />
Its direc<strong>to</strong>rs are:<br />
Ian Merricks – Group Managing Direc<strong>to</strong>r<br />
Co-Founder of the IMD Group and experienced in creating and building shareholder value in youth media<br />
and marketing businesses through organic launches and turnarounds of underperforming acquisitions. Ian<br />
worked entrepreneurially within the music industry between 1995 and 1998 as an events promoter / band<br />
manager, and from 1998 in a variety of commercial development consultancy roles, at ILR and latterly<br />
talkSPORT and Impact (The Wireless Group’s sovereign sales house).<br />
Martin Dallaghan – Group Operations Direc<strong>to</strong>r<br />
The last decade has been spent in the youth media and marketing sec<strong>to</strong>r. Martin has launched several<br />
small, successful businesses, acted as chair of the Student Radio Association and been involved in the<br />
preparation of a number of licence applications and countless RSL trials and student broadcasts. Martin<br />
runs the day <strong>to</strong> day operations of IMD Group.<br />
Piers Linney – Non Executive Direc<strong>to</strong>r<br />
Piers Linney is a qualified solici<strong>to</strong>r with particular experience in corporate finance and private equity and was<br />
a Senior Associate in Credit Suisse First Bos<strong>to</strong>n’s M&A Group before leaving <strong>to</strong> start an online marketing<br />
and research business for the pharmaceutical industry. Until December 2000, Piers was a board direc<strong>to</strong>r<br />
and the COO of TrusttheDJ, a music, radio, youth marketing and talent management company founded by<br />
Matthew Bannister (ex-Radio 1 controller and #2 at the BBC) and funded by Virgin, Bear Stearns and<br />
Bridges Community Ventures. Piers now acts as CEO of media investment boutique Towergate PLC and<br />
acts on a part-time basis as IMD’s Corporate Development Direc<strong>to</strong>r, overseeing strategic growth and finance<br />
issues.<br />
Business activities<br />
IMD Group’s whole focus is on working with our clients <strong>to</strong> credibly reach the youth market. IMD owns<br />
various youth media publications, and each of our brands are market leaders in their respective fields<br />
('<strong>Itchy</strong>' - the UK's best selling city guides; 'The Student Planner', paid for distribution <strong>to</strong> 53% of all<br />
college students). We have a youth broadcast / radio unit (supported by EMAP), and we have an<br />
excellent below-the-line unit which manages client events, PR, sampling, data capture and research.<br />
Performance<br />
The combined assets owned by IMD Group will have turned over around £1m by December 31 st year end.<br />
A DTI high growth business, IMD projects organic turnover of £2.6m next year, and a net profit of c£0.5m.<br />
This ignores any contribution from IMD Radio Cornwall Ltd, and excludes any of the planned acquisitions we<br />
have planned post IPO, which we anticipate will at least double turnover.<br />
(c) Involvement of the Applicant in Specified Activities<br />
Neither the applicant nor its participants (including shareholders) are involved in any of the Specified<br />
Activities.<br />
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