Planet Rock Sold To Entrepreneur

GCap Media’s national digital only radio station Planet Rock has been acquired for an undisclosed sum by a consortium led by entrepreneur Malcolm Bluemel.

The deal has been financed by Bluemel with the backing of Black Sabbath guitarist Tony Iommi, Jethro Tull’s Ian Anderson, Thin Lizzy’s Gary Moore and Marillion’s Fish.

The change of ownership has gone through with immediate effect, with GCap saying that the station will continue to be broadcast on national DAB from GCap’s Leicester Square studios for “the time being”.

Fish said: “I always knew that there was a visionary out there who would see the huge potential that Planet Rock has to offer. I am sure that the station will go from strength to strength.”

Trevor White, Planet Rock programme director, said: “To say we’re happy with the news would be an understatement. Rock fans waited 30 years for Planet Rock, a radio station that only played classic rock, and it would have been a crime to let it die. There were many parties interested in buying Planet Rock but it was Malcolm’s team’s love for the station and for radio that made them the obvious choice.”

GCap announced that it was selling Planet Rock in February as it revealed a “radical” set of measures to boost profits (see DAB Dealt A Blow As Gcap Unveils Radical Measures).

GCap Media: 0207 663 7000 www.gcapmedia.com