UBC Completes Acquisition of Classic Gold

07 December 2001

British radio services company UBC Media is set to buy the six Classic Gold licences still in the hands of radio station operator GWR Group.

The deal, said to be imminent, will involve six analogue stations plus their digital licenses, handing UBC complete control over the Classic Gold Digital network. GWR offloaded twelve Classic Gold AM licences plus a digital simulcast channel to UBC last year [WAMN: 21-Sep-00].

The move continues UBC’s move into digital radio and station ownership – a strategy that looks set to continue. “The acquisition that we made with Classic Gold Digital proved successful and our investors will want us to look for more,” said chief executive Simon Cole. Rumour has it that GWR may seek to sell off more assets to combat the economic downturn.

In addition, UBC agreed a deal with Emap to extend the coverage of Classic Gold Digital, lifting the possible audience from 8.6 million to 13m.

News source: Media Week (UK)