GCap Media said in a trading update released today that its total revenues are forecast to increase by around 4% for the year ending 31 March 2008, with a forecast increase of 4% year on year for the quarter ending 31 March 2008.
Within this, like for like radio advertising revenues are forecast to be up 3% year on year, with a 38% increase in the online revenues.
The company added that it remains in talks about a possible takeover by Global Radio.
Charles Allen’s Global Radio has until 5pm today to decide whether to proceed with its proposed £371 million takeover.
The trading update said: “The company remains in discussions with Global Radio regarding a possible offer for the company and a further announcement will be made in due course.”
GCap also confirmed that it received a letter on Friday from Ofcom informing it that it is pursuing its investigation into alleged breaches of the broadcasting code in connection with an on-air competition.
The investigation is looking at the “Secret Sound” competition run on the One Network in January and February 2007.
Related Links
