Shareholders of radio groups Capital Radio and GWR Group have approved the merger of the two companies, creating a single broadcaster with control of more than 40% of the radio advertising market.
At an Extraordinary General Meeting held earlier today, all other resolutions proposed, including changing the company name to GCap Media were passed by Capital and GWR shareholders.
Last month the Office Of Fair Trading (OFT) took the final step in clearing the merger of Capital and GWR, after the stations announced the satisfaction of all conditions set out previously by the OFT (see Capital Radio And GWR Name Merged Group).
The OFT were concerned that the merger of Capital and GWR may result in increased concentration and reduced customer choice in the East Midlands, with the proposed deal raising significant concerns for local and national advertisers (see Capital To Sell Century FM).
However, Capital agreed to sell its East Midlands radio station, Century 106 FM, in order to avoid investigation by the Competition Commission.
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