The nine analogue stations for sale are in the south-west, north-west and north Wales, including Marcher Group “leaving us in the seven key ITV areas where we have excellent coverage, ” said Chief Executive, Ralph Bernard.
Other changes see:
Analogue station Capital Gold combined with its national digital station Life, with both re-branded as one national station, “in Heart’s area”, and attacking Radio 2
Digital Brand Planet Rock also focused on grabbing (male) listeners from Radio 2.
Digital station Core “will almost certainly rebrand.”
Digital station Storm will be re-branded as XFM, as will Scottish-based Beat 106
The stations up for sale are MFM, The Buzz, Coast FM, Champian FM, Gemini FM, Plymouth South, Orchard FM. Latern FM and South Hams.
“This will not happen overnight, it will be prudent investment in stages to keep us ahead of the digital curve,” commented Bernard. “We see the BBC as the target; commercial radio has not been innovative enough and has lost audience to the BBC as a result.”
GCap Media announced this morning that its operating profit in the six months to the end of September was down by 27% to £14.7m, while revenues were also down, by 11%, at £111.6m. The company’s shares dropped 12 percent to 300 pence in early trade (see Audiences and Profits “Unacceptable” says GCap’s Bernard).
Related Links
