MegaGroup Pemrokeshire Limited, the publishing and media company based in Milford Haven, has today announced a £10,000 package of investment for community internet radio station Core FM.
MegaGroup Managing Director, Thomas Sinclair said: “Core FM is currently a station which focuses on internationally up and coming artists and gets listeners from around the world, but the station needs to expand in order to become commercially viable”
“There is not currently enough of a listener base in one geographical location to make the station commercially viable to local advertisers, which are vital for the financial viability of the station” he continued.
“Therefore Core needs to launch a station which solely focuses on local news; events and artists or it will not hit the listener numbers in Pembrokeshire to make it work commercially. As a company MegaGroup is constantly in contact with local businesses, and this is what they want” he said.
Mr Sinclair finished “The Core FM team, which consists of mainly volunteers, has done well to improve the quality of broadcasts over the last six months. I thank them. Now, however, there is the difficult challenge ahead of financial viability of the station.”
Mr Sinclair says the money will be spent on adapting the facilities towards the new locally focused brand.
MegaGroup Pembrokeshire Limited holds a fifty percent stake in the station, and pays for the running costs which keep the station going.
The company hopes to recoup its investment through the sale of advertising over the coming months.
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