GCap Media and Emap held talks about merging their radio assets, according to a report in the Times newspaper. Discussions took place between GCap chief executive Ralph Bernard and former Emap boss Tom Moloney, before Tom left his position in May. It is believed that GCap are keen to restart discussions.
The newspaper report suggests that Ralph Bernard might even be prepared to stand down in order to pursue a merger. If an outcome had been arranged, it would need the clearance from the Competition Commission, but Mr Bernard told the Times earlier this year that such a deal will be possible once Ofcom has released their findings on 'The Future of Radio'.
An independent analyst said: "There is definitely a further round of consolidation in radio waiting to happen, but with the chief executive’s job at Emap vacant, it will probably be later rather than sooner."
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