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GCap Media has acquired a majority stake in local social networking website welovelocal.com for £450,000.The deal will also see GCap pay for the existing cash in the company and will make further staged payments of £150,000 in total to the vendors as deliverables are met over the coming weeks.The welovelocal.com site helps people find the… Continue reading GCap Acquires Majority Stake In Local Social Networking Site

Ofcom is to auction a large portion of radio spectrum for services such as mobile TV.The provisional deadline for applications is 10 April, with the auction likely to start at the end of April.Ofcom said the 1452-1492 MHz band, the so-called “L-Band”, could potentially be used for mobile multimedia services such as mobile TV, satellite… Continue reading Ofcom To Auction Radio Spectrum To Make Way For Mobile TV

GCap Media’s plans to sell off Digital One, its DAB digital radio multiplex, have reportedly been put on hold as it continues talks with Global Radio about a possible acquisition.Last week, GCap resumed talks with Global Radio after Global made a third and “final” offer for GCap Media, valuing the Capital Radio and Classic FM… Continue reading GCap Puts Plans To Sell Digital One On Hold

Global Radio has made a third and “final” offer for GCap Media, valuing the Capital Radio and Classic FM owner at £370 million.The offer, at 225p a share in cash, is conditional on the recommendation of the board. The offer is around 20% higher than Global’s original offer in December of £313 million.GCap has now… Continue reading Global Radio Makes ‘Final’ £370m Offer For GCap

Revenue for commercial radio has increased over 7% year on year for the final quarter of 2007, at over £150.9 million.According to the latest figures from the RadioCentre, radio advertising totalled £598.2 million last year, up 2.8% on 2006.Within the £150 million, national revenue saw the largest growth year on year by 11.4% to £8.3… Continue reading Commercial Radio Records First Full Year Revenue Growth Since 2004

Global Radio is reportedly on the verge of walking away from a takeover of GCap, following the rejection of its improved £333 million offer last week.It is understood that Global does not want to overpay for GCap and is waiting to see whether new chief executive Fru Hazlitt’s strategy for turning the company around pays… Continue reading Global Radio Could Walk Away From GCap

Last week in the City, Gcap Media turned down a revised takeover bid from Global Radio, which valued the company at £333 million.GCap said that the revised proposal “significantly undervalues the company because it does not reflect the value that would be created by implementing the strategy of the new chief executive, Fru Hazlitt” (Full… Continue reading Media In The City: GCap Turns Down Revised Global Radio Bid

GCap Media has rejected a revised takeover bid from Global Radio which values the company at £333 million.Global offered 202p a share, a 6% increase on the 190p per share bid it made in December, and ahead of the Takeover Panel’s March 5 deadline for bids to be tabled (see Media In The City: Microsoft… Continue reading GCap Turns Down Revised Global Radio Takeover Bid

Radio-specific ownership rules create unnecessary barriers to industry consolidation, commercial radio representatives told peers at the House of Lords yesterday.The appearance was part of the House of Lords Select Committee on Communications’ ongoing inquiry into Media Ownership and the News.RadioCentre chief executive Andrew Harrison was joined on the panel by Mark Story, managing director of… Continue reading Commercial Radio Calls For End To Outdated Ownership Rules

Universal McCann and Bauer Advertising have announced a year-long partnership deal, bringing together car insurance company MORE TH>N and Magic 105.4.Launching this month and running through to February 2009, the concept was created from a joint initiative between Universal McCann and Bauer.Running under the banner More Is… Giving You More Indulgence, the campaign features a… Continue reading Bauer Announces Year-Long Magic Partnership Deal