UK's GCap May Sell Off Smaller Stations
November 14, 2005 at 6:50 AM (PT)
The UK's GCAP MEDIA may be selling off some of its stations and cutting some of its brands in a reorganization to be announced at a NOVEMBER 24 presentation.
A report in the SUNDAY TIMES indicates that the company, which was formed this may in the merger of CAPITAL RADIO and GWR, will likely eliminate digital Rock channel STORM and possibly sell local stations ESSEX FM, TRENT FM, and PLYMOUTH SOUND in order to concentrate on developing the larger CAPITAL FM, CLASSIC FM, and XFM brands. GCAP is also expected to resort to legal action to stop OFCOM from awarding a second national digital radio multiplex, protesting that GCAP was awarded the first multiplex by the RADIO AUTHORITY on an exclusive basis.