GWR Group Launches New Internet Company

GWR announced today the launch of a new internet business, Ecast Ventures. Investing £6.5 million in the business, it aims to target the radio group’s 10 million weekly radio listeners with local and national sites.

A local portal, koko.co.uk, will eventually be developed into a national network of locally orientated websites providing news and information. The first will be launched this spring in the Swindon area. A second portal, musicradio.com, will contain the group’s radio streams including Classic FM, local stations and digital stations Planet Rock and Core.

A third venture – an internet investment arm – will allow internet start-up companies to exchange GWR airtime for equity. This follows a similar scheme set up by Channel 5, where Net companies can offer equity stakes in return for advertising space on the channel (see Channel 5 Exchanges Airtime For Internet Stakes).

GWR Group chairman Henry Meakin, said: “Radio has shown in the US and here in the UK that it is the most complementary medium to the fast developing world of internet users. GWR has an excellent track record in understanding the needs of both its listeners and advertisers.”

GWR Group: 020 7284 3000