Capital, Classic and Heart owner Global Radio has posted a pre-tax loss of £32.7m in the year ending March 31st 2011.
But despite the losses, it’s been reported the UK’s largest commercial radio group paid its highest paid Director a £1.4m bonus.
It’s thought founder and executive president Ashley Tabor was paid a total of £3.3m, according to documents to be filed at Companies House.
The Daily Telegraph says the increased losses were partly due to a £56.1m interest payment due to the company’s shareholders which they have opted not to draw until a later date but which must be notionally written off its books, it is understood.
Read more on this story around the web by clicking here.