In June 2008, The Local Radio Company, run under the former chief executive of 102.2 Jazz FM, Richard Wheatly, signed a three-year deal with GMG Radio to relaunch Jazz FM on DAB. According to "The Times", no money exchanged hands in the deal. However, The Telegraph reported that the deal was done for a single pound. The annual report from TLRC published in March 2009 shows that the station costs them £30,000 a month to provide the Jazz FM service on behalf of GMG.