GCap Buys Majority Stake In Local Social Networking Site

GCap will combine welovelocal.com’s highly engaged online audience with its own network of local radio brands to enhance the broadband strategy announced by chief executive Fru Hazlitt in February 2008.

Hazlitt said: “This is a great opportunity for GCap. welovelocal.com is a business in its infancy but is already showing excellent audience growth. We will be able to accelerate this growth in a way that reinforces our connection to our local communities.

“We will integrate its listings and reviews into our Capital 95.8 and One Network sites, enhance and support the on-air experience across these stations and develop welovelocal.com into the leading user generated reviews site in the UK. This will allow us to build commercially attractive online communities of interest, to exploit our local presence and access new classified revenue streams.”