Ralph Bernard, chief executive of the UK’s largest radio group GWR, yesterday forecast the proposed relaxation of radio ownership regulations in a government White Paper next month.
GWR, which owns Classic FM, is one of the six major players in the UK radio industry, although further expansion has been hindered by the current ownership rules.
Bernard believes these rules may soon be eased, allowing consolidation within the radio industry: “In future there is not going to be one owner, and two is unlikely, but three is a possibility”.
The statement came as GWR posted a 24.2% fall in first-half pre-tax profits, the result of heavy investment in the internet and digital services.
News source: The Times (London)