Liberty Broadcasting managing director to step down

Liberty Broadcasting managing director Mike Hollingsworth has stepped down from day-to-day management of the company.

The media investment operation, owned by Harrod’s boss Mohamed Al Fayed, blamed the lack of progress in solving transmission problems at the revamped London station Liberty Radio for Hollingsworth scaling down his time at the company.

“Until this situation is resolved, the Liberty Broadcasting Company’s investment programme has been placed on hold. Managing director Mike Hollingsworth has temporarily reduced his involvement to pursue other activities,” says the company.

However, Liberty has dismissed suggestions that he is to quit. A spokesman for the company says Hollingsworth, high-profile TV producer and husband of presenter Anne Diamond, remains managing director and had “neither resigned nor been fired”.

The company has put future radio acquisitions on hold until problems at Liberty are resolved. The release of Rajar audience figures next month is expected to shed light on the success of Hollingsworth’s efforts to lift the station’s minimal audience share, which it inherited from the defunct Viva! radio station.