UTV in sports magazine purchase

Sport announced it was suspending operations after its parent company went into administration

UTV Media plc has announced it has acquired Sport, the UK's largest weekly sport magazine.

The magazine which will be re-launched in June was bought for an undisclosed amount after its French parent company went into administration.

The 21 staff currently working for the magazine will move into talkSPORT's London offices.

UTV radio managing director, Scott Taunton said "Sport is a wonderful addition to UTV."

"With an impressive weekly circulation of 317,000, UTV look forward to building on the magazine's success in the coming months," he added.

Mr Taunton said that Sport is an established and well respected brand that is widely recognised.

"We have no intention of re-branding it, but it will now be backed up by the strength of talkSPORT," he said.

The magazine's French-based parent group, Sport Media & Strategie, went into administration in April.

In May UTV announced its revenue fell 9 per cent in the first four months of 2009 as advertisers continue to cut budgets.

The decline was steepest at its TV business but the company said prospects for its UK Radio division, which includes TalkSport, are due to improve in the coming months.