The Preston and Wyre Railway was promoted to open up agricultural land in the Fylde in Lancashire, access a new port at what became Fleetwood and the Lancaster Canal at Preston: it opened in 1840. An associated company built the dock leading to the company changing its name to the Preston and Wyre Railway, Harbour and Dock Company. Passenger business was more buoyant than expected, and the company built branch lines to the nascent resort of Blackpool and Lytham that opened in 1846. At that time the line was leased by the Lancashire and Yorkshire Railway and later the London and North Western Railway took a share in the lease which was later converted to outright ownership. The Preston and Wyre Railway continued to be jointly owned as the Preston and Wyre Joint Railway.

The Lancashire and Yorkshire Railway (L&YR) was a major British railway company before the 1923 Grouping. It was incorporated in 1847 from an amalgamation of several existing railways. It was the third-largest railway system based in northern England.