Laser Broadcasting - Is this Finally the End?
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A Petition to wind up the above named company whose Registered Office is at Barnet House, Dudley Court, Dudley Road, Darlington, County Durham DL1 4GG presented on 23 July 2008 by Capital North East No. Limited Partnership whose Registered Office is at 3 Earl’s Court, 5th Avenue Business Park, Team Valley, Gateshead, Tyne & Wear NE11 0HF claiming to be the creditor of the company will be heard at The High Court of Justice, Leeds District Registry, The Court House, Oxford Row, Leeds 1 on 14 October 2008 at 10.30 hours (or as soon thereafter as the Petition can be heard).
Any person intending to appear on the hearing of the Petition (whether to support or oppose it) must give Notice of Intention to do so to the Petitioner or its solicitors in accordance with Rule 4.16 by 1600 hours on 13 October 2008.
The Petitioner’s solicitors are C W Harwood & Co, Kimberley House, 11 Woodhouse Square, Leeds LS3 1AD, telephone 0113 245 7027, facsimile 0113 242 1329, email gareth.allen@cwharwood.co.uk
http://www.gazettes-online.co.uk/ViewGazetteDocument.aspx?src=search&atdocid=5336251&pg=1&GeoType=London&st=basic&all=laser%20broadcasting
Any person intending to appear on the hearing of the Petition (whether to support or oppose it) must give Notice of Intention to do so to the Petitioner or its solicitors in accordance with Rule 4.16 by 1600 hours on 13 October 2008.
The Petitioner’s solicitors are C W Harwood & Co, Kimberley House, 11 Woodhouse Square, Leeds LS3 1AD, telephone 0113 245 7027, facsimile 0113 242 1329, email gareth.allen@cwharwood.co.uk
http://www.gazettes-online.co.uk/ViewGazetteDocument.aspx?src=search&atdocid=5336251&pg=1&GeoType=London&st=basic&all=laser%20broadcasting
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Comments
What will happen to the stations? Surely not all the licenses will go back, or will other companies be invited to buy the assets?
Who would want them?
None of the stations they own have a great potential for cash generation. Some may even have debts.
It's ok owning a few stations if most make money, but it'll be hard work for anyone to make money out of most of Lazers stations. Any that make cash certainly won't make enough to support the other Lazer stations.
I could envisage the CN Group possibly taking on the ex-TLRC cluster, with them being co-located at Wootton Bassett - where there would be both space and good quality facilities - and possibly even being rebranded as Touch.
If they then regionally networked midmornings and drive and then joined up with the Midlands stations at night, I could see that working. If you add in a merged news operation the result would be a massive reduction in overheads.
The other wager I'd put is Lincs taking on Fresh. I feel that their style would work well in that TSA, and more importantly the group already has a big foothold in Yorkshire - which means there'd be other stations for Fresh to pool resources with.
I do however have the horrible feeling that it could be the end for the others.
Disclaimer: I'm not involved with any of these companies anymore and my guesses are just that: pure speculation.
If you listened to Sunshine 855, as I do ( being only a listener ) , and as my friends who live in Ludlow do, you would realise that something seems already to be happening. Perhaps you are wrong in continuing to associate Laser ( not Lazer as spelt above ) with Sunshine 855.
There is also something else to consider. If this station goes off the air because of the problems of Laser, then it won't stay off the air. The station carries a lot of advertising which DOES make it viable, and has a large, loyal audience including myself. There will be an overwhelming demand for a new version of it.
A last thing to consider. It is all very well for armchair experts ( even ones working elsewhere in the radio industry ) to post messages to this forum saying whatever first comes into their heads about this topic. Just remember, though, that you're talking about the livelihoods of the people still working at the stations. They have families to support and mortgages to pay, and most travel fair distances to work. Lets show them some support and encouragement during the next few weeks.
They certainly have my support, if not yours.
But if these stations are not viable then massive cuts have to be made in order to continue providing a service of reasonable quality, if not as local as we'd all like it to be.
I accept that in some quarters what's happening is a nessecary evil to keep these stations on our dials.
Survival is acceptable in my eyes. Greed, however, is most certainly not.
Many people will be thrilled to hear the heavy footsteps of the grim reaper wandering around Darlington, but I don't think anyone has (or would) suggest anyone is pleased with the effect it's having on the stations.
The stations and staff within them are the innocent parties here.....like the kids in a messy divorce....we can only hope radio's social services step in to ensure all of the stations have a future.......sadly I'm not sure that will be the case and that's a shame for all involved.
As for the parents in this saga.......couldn't have happened to a nicer company!
Thank you.
I do not usually post here...people seem to be jumping to some big conclusions though.
Yes, the situation does not look good but there may be an element of hope yet.
Oliver.
I can't wait for Laser to go bust. They are a bunch of (enter legally-questionable insults here) who don't deserve to run any radio staiton, or employ the talent they have.
So yes, in that respect, I hope they have gone bust.
However, I very much hope the stations and staff may now get the backing and appreciation they deserve!
Not so long ago they aquire 3 more stations & what almost a year ago launched sunshine hereford & monmouth.
Surely they had to prove to ofcom they had the finances to operate a new license when they applied.
They are really a joke in the world of radio & something the uk need to get rid off.
As for not paying staff etc thats just taking the ****
Remember that name, if he is part of any company wishing to buy your radio station walk out straight away...Ofcom take note please..only allow this man to LISTEN to the radio.
Otherwise administrators will probably take over the company and see what can be salvaged, ideally as a going concern with some valuable radio licences with what seems to be dedicated listeners.
edit
Found these cached announcements on Google (no longer on the Laser website) when things were looking better.
Laser Broadcasting is the 'Peckham Trading Company' with Nigel Reeve as Del Trotter.
Blimey - have you had a lucky escape, or what?
For example, the earlier suggestion that Bath FM was moved to Swindon by Laser is factually incorrect and potentially actionable. Laser would rightly point out that they reversed TLRC's decision and returned Bath FM to the city of Bath. For legal reasons, I can't elaborate on other speculative inaccuracies written above - but want to clear something up.
By 14th October, my understanding is any station currently owned by Laser could be history if not taken over by the time of the hearing. At this point, the onus is on the company which has filed the winding up order to prove Laser can't pay its debts. Therefore, if Laser settles the outstanding amount, unless everyone who is owed money contacts the solicitors acting for Capital North East to outline their personal claim and add further evidence, the case could drop. Whatever the outcome, Nigel Reeve will continue to live in his big house while others I know stand to lose theirs.
I personally know a number of people who are owed money and in some cases, stayed silent in the belief they would eventually be paid. Others were fearful of saying anything in case they subsequently weren't. It's entirely possible that no-one will see a penny. This case has already been raised at a very high level, so there may be further significant developments yet.
One other thought for you - IF Laser's Chief Executive has already set up another company, it's possible he could legally transfer assets ahead of the hearing on the 14th Oct - just like Ken Bates did with Leeds United when he put the company into administration and transferred ownership to a new company. The bad news is that if this were to happen, any outstanding debt dies with the old company.
There's food for thought.
Spoke to the marvelous Nick Jones yesterday and had a request played (Average White Band if you're interested.)
I really hope it survives- here in the Solent area we have loads of stations but not one has the character of Sunshine.
The FM station is good too.
Any staff affected by the turmoil have my full support.
In Laser's defence, who else would run such querky stations? TLRC have ruined Isle of Wight Radio and all the Global stations are as dull as ditchwater.
To Lasers credit ( and they don’t have any ) they moved them back ASAP when they took them on. That’s where the back slapping stops. As I understand it Nigel Reeve / Stuart Linnell went to all 3 ex TLRC stations and told them that he was disbanding Laser as they were having problems getting funding and investment.
This happened at the end of October. I have heard that NONE of the staff in any of said stations have been paid. Let me just reiterate. NONE of the staff in 3TR, Bath FM and Brunel have been paid. This I believe to be the case across the Laser group. Bare in mind they made the acquisition early this year and yet the notice of insolvency was submitted from July 23rd.
It is a blatant breach of employment contract and you could expect all the staff across the stations to be in the process of legal action. What could happen is everyone walk out during the legal wrangling and all the sites will go off air. If this happens any forthcoming investment will surely not happen and who in their right mind would work for anyone remotely associated with Reeve and Laser?
Here’s the killer. Apparently all the laser stations accounts were affluent prior to pay day but got emptied just before. IE there was enough money to pay all the staff but Laser took it out of all 6 station accounts. Now what would be the only reason for that?
We could surmise that Laser hasn’t got the proverbial pot to piss in and are totally skint. We could also surmise that the whole business is built on capital investment. Any potential investor that does a search for Laser or Nigel Reeve will be greeted with alarms bell ringing and keep their hard earned dosh well locked away.
It would make perfect sense to form a new business, show off a lovely new portfolio of newly named stations. A very healthy bank balance showing the new company to be in great shape ( funds that should have paid staff of course ) and off they go again.
Meanwhile, little mouths haven’t been fed. Presenters have been served eviction notices, mortgages haven’t been paid, morale has been shattered, advertisers have walked away and the stations have been devastated.
Congratulations Mr Nigel Reeve. You are not only destroying radio stations, you are destroying people’s lives.
That's inside knowledge. Bang on the button.
But does Reeve care?