UBC Media is expecting a 15 per cent lower turnover than the same time a year ago, as advertising revenues continue to fall.
"Difficult trading conditions continue to affect, in particular, the Commercial Division where revenues from radio advertising are down in common with the rest of the radio advertising market," UBS said in a company statement today.
"The deals announced last week with Global Radio and Bauer Radio mean that we are confident that we have used the current market conditions as the opportunity to build a Commercial Division which is well placed to benefit from a returning advertising market. Our commercial networks now give advertisers the opportunity to reach 67% of the UK's commercial weekly radio audience."
UBC is currently selling its commercial division to Global Traffic Network, a deal which will be complete by November 15th.