GCap Could Sell Its Stake In Digital One
Reports in the trade press have suggested that GCap is planning to sell its majority stake in DAB multiplex Digital One.
Recently appointed GCap chief executive Fru Hazlitt (see A Fresh Start For GCap With Hazlitt) is said be outlining her plans for the company to the City next Monday, where she is expected to detail GCap’s plans for its future digital radio presence.
The report highlights that speculation has been mounting that the company could scale down its loss-making DAB presence, which has yet to reap significant profits for the company.
News that GCap could be looking to extricate itself from Digital One, which it co-owns with transmission infrastructure outfit Arqiva, follows reports that the company may also be planning to announce the closure of its remaining digital stations Planet Rock and theJazz.
Closure of its digital stations is understood to be part of a wider bid to cut costs to fend off takeover attempts by Global Radio (see Media In The City: Microsoft Makes Move On Yahoo!).