After only three months as chief executive of GCap Media, Fru Hazlitt is expected to walk away from the group with almost one million pounds – if the sale to Global Radio on Wednesday is successful. This information comes from a speculative report in the Sunday papers, and cannot be confirmed by GCap.
The former Yahoo! UK managing director has been in the spotlight recently after announcing cuts to GCap's digital radio stations, claiming she can turn-around GCap's fortunes by concentrating on growing the company through an online strategy.
But if newspaper reports are true, her plans will be abandoned and the real future of radio will lie with former ITV boss Charles Allen in his role as chairman of Global Radio.
Details of the sale are being finalised after a board meeting on Thursday. Some of the issues raised included selling off stations in London and the midlands to appease competition concerns – the Times reported yesterday.
Fru Hazlitt joined the GCap board in May 2007 after spending two years as chief executive of Virgin Radio. She was appointed London managing director in January 2007, and promoted to chief executive in December when Ralph Bernard announced he was stepping down.
