Report: UTV Pulls Out Of Bidding For GCap Spinoff
February 3, 2006 at 5:57 AM (PT)
The GUARDIAN is reporting that one of the companies considered a frontrunner to buy nine of the radio properties being spun off by UK giant GCAP MEDIA has pulled out of the running. ULSTER TV was expected to be one of the most likely to win the auction of the stations, and its withdrawal leaves UKRD, LOCAL RADIO, ABSOLUTE RADIO, and at least one company from outside the UK as potential bidders.
The cluster of stations being sold include PLYMOUTH SOUND and COAST FM in WALES, and is expected to fetch about £35 million.