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November 23, 2005

GCap plans shake-up after profits slump

GCap Media, the UK's biggest commercial radio company, is planning a large scale shake-up after reporting a disappointing GBP10.1 million pre-tax loss for the first half.

By CBR Staff Writer

GCap’s revenues suffered an 11% decline over the six months to the end of September, prompting the company to announce a restructuring initiative.

As reported by The Guardian, the radio group’s chief executive, Ralph Bernard, said the group was taking, firm management action in response to the results. The company will rebrand some of its analogue and digital radio stations and sell off around nine local stations. It also aims to concentrate on revamping Capital Radio and winning back listeners.

In a concerted effort to ‘de-clutter’ its programs, GCap will significantly reduce the amount of air-time it allocates to commercial advertising. However, this means the company will divest itself of the significant amount of revenue advertising draws in, and so will have to consider other possible sources of revenue such as book deals and rights management.

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