News: WAN looking to acquire radio assets

.

West Australian Newspapers Holdings (ASX:WAN) says it is geared for growth and has its eyes on purchasing radio assets.

Chief executive Chris Wharton has advised the company now has the capacity for expansion, having in June relocated its radio group into new studios.

Mr Wharton says expansion in the radio space is highly regulated by licensing laws and to grow its footprint is likely to require acquisitions.

West Australian Newspapers Holdings says its newspaper group is not constrained by licensing laws and expansion in that market will not be through acquisitions but through creation.

In fiscal 2010, West Australian Newspapers Holdings improved its net profit by 10.29% to report $96.2 million profit.