UBC Media has issued a statement this morning confirming that it has already fully written off its 49 per cent investment in Oneword, and is looking at ways in which to exit from the venture. The comments come after recent press speculation about the future of the digital speech station.
Oneword is 51 per cent owned by Channel 4, which aims to launch a whole range of speech stations nationally next year. Press reports suggest the station will close by the end of the year.
UBC will tell us more in their Interim Results on December 4th.