GCap Buys Out UBC's Interest In UK's Classic Gold
April 25, 2007 at 5:46 AM (PT)
GCAP MEDIA has bought out its joint venture partner in the 18 CLASSIC GOLD Classic Hits AM stations across the UK, UBC MEDIA, for 3.95 million pounds.
GCAP, which is reacquiring UBC's 80% interest in the CLASSIC GOLD DIGITAL operation, plans to merge the stations into its CAPITAL GOLD network. It sold the stations to the joint venture in 2000 and 2002 and continued to sell the stations' advertising inventory and provide back-office functions.