MacKenzie firm buys Talk Radio

TALKCO, led by Kelvin MacKenzie, a former editor of The Sun, yesterday agreed to buy CLT-Ufa SA's 63 per cent stake in London-based radio station Talk Radio.

TalkCo, which includes Rupert Murdoch's News International and MVI, a venture-capital company that owns 35 per cent of Talk Radio, did not disclose the amount it paid for the stake, but said the purchase values Talk Radio, which made a loss last year of pounds 10m, at pounds 24.7m.