Report: GCap To Shut Some Digital Stations
May 31, 2007 at 5:50 AM (PT)
UK radio giant GCAP MEDIA, following the disclosure that its revenues and profit fell precipitously for the last fiscal year, announced WEDNESDAY that it will shut down its digital CAPITAL DISNEY radio station and will end its investment in digital stations CORE and LIFE, according to the TIMES OF LONDON. The move comes after revenues fell 9% and profits dropped 25% in a year.
The company's head, FRU HAZLITT, said that GCAP's strategy for recovery will be to "work with the best of what we have got," which includes the CAPITAL, CLASSIC FM, PLANET ROCK, XFM, THEJAZZ, and ONE NETWORK stations.