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Wireless Group is to acquire Forever Broadcasting, the operator of local radio stations in Wolverhampton, Chesterfield and Bolton, for £8.1m.
Wireless Group is renegotiating its £40m banking facility in order to secure adequate resources for the development of its radio business, which could lead to the sale of some radio licences.
Wireless Group is to relocate the 96.3Q FM local radio station from Paisley to a larger studio near Glasgow city centre this summer.
Wireless Group is planning to move into TV programme making by setting up a joint venture with 3BMTV to produce sports documentaries.
Wireless Group is to acquire the remaining 75% of Wave FM, the Southampton-based radio station, for £21m.