The Mean Fiddler music group has purchased London-based country music radio station Ritz 1035.

It is the group's first move into the radio sector and is aimed at enabling it to further support its promotion of live music venues, festivals and events.

The group has refused to disclose the purchase price.

About 90 per cent of the consideration was paid to Ritz Radio in the form of Mean Fiddler shares at a valuation of 50p sterling each.

Commenting on the acquisition yesterday, Mean Fiddler chairman Mr Vince Power said the station would enable the Mean Fiddler group to reach a much wider audience.

"This acquisition is another milestone in our efforts to build a media division to complement our market leadership in the promotion of live music venues, festivals and events," Mr Power said.

Ritz 1035 reaches an audience of more than 100,000 across London.

In the future, Mean Fiddler intends to work in partnership with the Ritz Music group on a number of joint ventures including album releases and concert promotions.

"The reason I came into the music business 20 years ago was my love of country music and this is why the acquisition of Ritz 1035 is particularly special for me," Mr Power said.

He founded the Mean Fiddler group in 1982. It is now the leading music festival and venue promoter in the UK. The group owns 12 venues in the UK.