Richard Eyre To Become GCap Chairman

Richard Eyre is to join GCap as deputy chairman on May 1, before taking over as chairman in November, and will give up his place on the board of the Guardian Media Group.

Ralph Bernard, Chief Executive of GCap Media said “Richard is someone I deeply respect and admire. His wide experience covering advertising, radio, television, press and digital media will be a valuable addition to the Board. I am greatly looking forward to working with him.

“Peter Cawdron has been an excellent chairman and we are delighted that he has agreed to remain on the board.

“Although the market remains uncertain and visibility short-term, we are encouraged that the group has been showing an improving trend over the past six months and that we are outperforming the radio advertising market for the first time.

“We have a strong board and senior management team in place. Now, having stabilised the business, we intend to focus on the excellent opportunities we see in the digital world – particularly online.”

GCap also announced today that, ahead of its preliminary results to be released on 30 May, its revenues for 2006 are forecast to increase by 1% year on year for the last quarter and are expected to decline by around 3% for the year.

Total revenue for the year is forecast to decrease approximately 9%, whilst it estimates that its advertising revenue performance will be ahead of the market for the last quarter of the financial year.

Last week, Eyre was appointed as a non-executive director at MGt, a support services provider to the digital broadcast and new media sector (see Richard Eyre Joins MGt As Non-Exec Director).

GCap Media: 0207 663 7000 www.gcapmedia.com