UBC Media Confirms Discussions With GWR Over Classic Gold Licences

UBC Media has confirmed it is in discussions with GWR regarding the radio group’s Classic Gold format. GWR was forced to put the licences up for sale in compliance with regulatory requirements imposed upon its acquisition of DMGT in June (see Feature: GWR Seeks Licence Disposal Amid Consolidation).

The deal will involve a considerable number of the Classic Gold Network licences, which cover a wide geographical area across the UK and target the 30+ age group. It is believed that a subsidiary will be formed, Classic Gold Digital, to be 80%-owned by UBC and 20%-owned by GWR. Analysts have set a price for the licences at £2.1m.

UBC Media floated on the Alternative Investment Market in July this year and already supplies content to GWR’s FM and AM radio stations. The group recently signed a further content deal with the radio group’s internet venture, koko.co.uk (see GWR Signs New Media Deal With UBC Media).

John Quinn, director at UBC Media, said today: “Discussions are ongoing and moving forward and a further announcement is expected today. It is inconceivable that the deal will not happen at this stage.”

UBC Media: 020 7453 1602 GWR: 020 7284 3000