iRadio stations lose €2.6m
29 September 09

iRadio Ltd, which operates two stations in the West, lost €2.6m in 2008, its accounts show.

It operates the Galway-based i102- 104 service that covers the northwest of the country and its accounts show that it made a loss of €1.53 million last year. This left the company with accumulated losses of €2.76 million. The station began broadcasting in February 2008 and achieved a JNLR listenership figure of 15,000 per average quarter hour in the most recent audience survey.

Its sister station, Athlone-based iRadio North East and Midlands Ltd, which went on air in November 2008, made a loss last year of €1.06 million. This left it with accumulated losses of €1.26 million. Both companies filed abridged accounts providing only limited financial information. No revenue figures were provided.