GCap Media could be considering purchasing Emap’s radio assets, following Emap’s announcement last week that it is reviewing its portfolio of assets.
When Emap announced the review last week it said that “all options to maximise shareholder value will be examined, including a possible sale or demerger of some or all of its constituent businesses” (see
Emap Launches Review Of Structure And Assets).
According to reports in the trade press, UTV, owner of TalkSport, and Global Radio, which recently acquired Chrysalis Radio, are also considering Emap’s radio stations.
Global Radio bought the Chrysalis stations, including the Heart, Galaxy and LBC brands for £170 million (see Charles Allen Heads Chrysalis Radio Buyout).
Today, Chrysalis Radio chief executive Phil Riley said that he will stand down following the acquisition.
Last week, GCap Media announced that its total revenues for June were up 6% year on year, ahead of the company’s expectations, and were up 2% year on year for the three months to June 30 (see ITV Welcomes Ofcom’s Public Service Proposals).
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