CC delays Global GMG takeover decision
The decision on whether Global Radio can take over all GMG Radio assets has been delayed, with a final decision not expected till May 22nd.
RadioToday has learnt that “sufficient time” is needed to take full account of any comments received in response to the provisional findings and that the need to provide a fully reasoned decision within the statutory time frame has arisen.
“The range of possible remedies to be considered in this case is complex and that all possible remedies need to be explored with the parties to the merger and third parties,” the Competition Commission said today.
An industry insider told RadioToday: “The delay proves that the provisional findings were just an initial decision, and that there is clearly a great deal of work still to do to in working out one of the biggest decisions our industry has been faced with.”
The takeover of GMG Radio by Global Radio was subject to a report by the Office of Fair Trading last year who referred it to the Competition Commission, and a decision was due to be prepared and published by 27th March 2013.
It adds another two months of uncertainty to staff at both companies before any announcement can be made on the future of all the stations and staff involved.Posted on Thursday, February 21st, 2013 at 4:40 pm by Roy Martin.