Buyer is found for Radio Maldwyn in Newtown

A potential buyer has been found for a radio station which went into liquidation last week with hopes it could be back on air in the new year.

Radio Maldwyn, which broadcast across mid Wales from a studio in Newtown, Powys, was founded in 1993.

Insolvency firm Irwin and Company said a buyer had been found and subject to contract a deal would be struck next month.

The station's presenters stopped broadcasting last month.

Gerald Irwin of Irwin and Company in Sutton Coldfield, near Birmingham, said he had received offers for Radio Maldwyn from a community group, two radio stations and someone who ran a radio station.

"A buyer has been found subject to contract," he said.

"A number of offers were received, but I am in negotiations with one particular party.

"The sale of (Radio Maldwyn's) assets are yet to be completed because other parties who have an influence have to be involved," added Mr Irwin.

"Powys County Council, which owns the studio and the transmitter, has to be satisfied the new owner will be a suitable tenant, and Ofcom, as regulator, has to be satisfied."

Radio Maldwyn's shareholders were sent a notice of insolvency last month and voted to wind up the company at a meeting last week.