A consortium consisting of some of rock music’s most famous names and the millionaire owner of a passport application business have saved radio station Planet Rock from closure.
The digital-only station, which is part of the GCap Media group, had faced closure at the end of May if it failed to find a buyer.
However, Music fan and business man Malcolm Bluemel, along with musicians including Black Sabbath's Tony Iommi and Ian Anderson of Jethro Tell, saved the station in a last minute deal.
The group held off a rival bid from another consortium headed by Queen guitarist Brian May – who dropped out of the running last week.
May had spoken fondly about Planet Rock in recent weeks, describing it as “more than just a radio station”.
Speaking about his acquisition, Bluemel told the Guardian: "The people at Planet Rock and their listeners are passionate about their music and their station, which is why I wanted to step in and help make it happen."
For the time being the radio station will continue to broadcast from GCap’s studios in Leicester Square in London.
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