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Posted on 31.03.08 by Matt @ 8:27 pm
They've been after a new radio group for ages and finally they've found got one. Global Radio's offer has been endorsed by the Directors of GCap Media and recommended to the other shareholders. What does this mean? Well if the shareholders accept it (which they are very likely to do) Global will be the new owners probably sometime in June. However they won't be able to control the company directly until the OFT/Competition Commission agree the acquisition. This could take three months from now to be agreed which would mean they're not properly in charge until July/August. Does this mean GCap will continue with Fru's 'strategy' in the meantime? Unlikely. Global are likely to have put a halt to most of the major transactions. I think it's safe to say Capital Life and theJazz will cease tonight, whilst the regional XFMs and Digital One are likely to stay in the group. Planet Rock's a bit more interesting. I believe there's a number of parties who would still like to buy it, but will Global keep it? To be honest, I think it's unlikely, they've got enough brands to be getting on with and probably will like another paying tenant on Digital One. More Global thoughts here. Filed under: gcap media and global radio Comments: None |
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Posted on 22.03.08 by Matt @ 8:32 pm
This coming week will probably be the last for GCap Media as Global Radio agrees the final terms to acquire the “belegaured radio group” (copyright every newspaper). Whilst traditionally it’s the acquiree that feels the brunt of any changes or cuts, the unique nature of the takeover creates some interesting questions. First and foremost, GCap is a much larger entity than Global and not only in audience ad revenue terms but in numbers of staff and broadcast locations. Global Radio is quite a compact radio group, two main analogue brands – Galaxy and Heart – with some key operations co-located like Heart and the LBCs in London and Galaxy and Heart in the West Midlands. GCap on the other hand is spread across over 40 different locations with large group functions based in London, Bristol, Reading and Nottingham. Indeed, whilst some of GCap’s systems are a little confused, they are at least geared up to operate across multiple stations and radio brands and will probably find it easier to add the Global stations onto, rather than try and shoe-horn 50 stations into the ex-Chrysalis systems. Filed under: gcap media and global radio Comments: 5 Comments |
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Posted on 07.12.07 by Matt @ 11:46 am
No, not Jack Bauer, he couldn't buy anything as he's in jail. H Bauer, the German media bods have bought Emap's radio and magazine arm as well as their shareholding in the Emap-C4 joint-venture Box TV (that runs all the music TV channels). The radio side was valued at £422m. The deal's bad news for lots of people who hoped they'd be the winner. As well as a load of VC money with various people like Tim Schoonmaker and Phil Riley fronting it, Global Radio (the operators of Heart, Galaxy and LBC) are going to be a bit miffed about their loss. Global was created as an organisation that would drive consolidation and extract value from new scale. Instead they're now at risk of being sidelined and they're going to have to do a deal or they'll probably be flogged off to someone like GMG. New pants time at Bramley Road. We're also going to have to find out what H Bauer's view is on things - from digital radio to localness, their involvement is a wild card for the radio industry. Or have they just acquired these assets to sell them on to someone else. We'll have to wait and see. Filed under: bauer and emap and global radio Comments: 2 Comments |