A date, two weeks later than originally planned, has been set for the transfer of ownership for UBC's commercial am to Global Traffic Network.
The delay is blamed on "recent changes in the commercial radio industry in the UK" – and both parties agreed to the further two weeks of diligence. It is now intended that the Sale and Purchase Agreement will be signed on October 17th 2008 and the transaction will complete by 15th November 2008.
UBC's commercial division supplies traffic, news and entertainment information to around 250 UK radio stations in exchange for commercials that are then sold to advertisers.
The sale was originally [link=http://radiotoday.co.uk/news.php?extend.3368.2]announced[/link] in May 2008.