Global's GMG Radio takeover cost revealed
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Global’s GMG Radio takeover cost revealed

Global Radio’s latest financial report confirms Global Radio did pay “around £70m” for the radio division of the Guardian Media Group.

Figures just released, which show facts and figures to March 2013, confirms the actual amount was £69m and went on to value the net assets at £66.4m at the time the report was made.

The report also shows that GMG Radio made £51.7m in revenues and a £1.8m pre-tax loss in the year to the end of March.

Overall, Global Radio has losses of almost £30m thanks to a substantial payment to shareholders, while operating profits grew 11% to £37m and revenues grew from £209.4m to £219.5m.

The company made a pre-tax loss of £29.2m, up on the £27.7m reported in the previous year, including a £67.7m charge classified as interest payable and similar charges related to loans.

The company’s highest paid but unnamed director received a total remuneration of £2.04m – thought to be Founder Ashley Tabor.

The report shows a payment of £2.08m to RadioCentre, of which it now owns 46.3%.

With thanks to Guardian for the breakdown.

0 7 2614 31 December, 2013 Industry News Tuesday, December 31st, 2013


  1. #boiledp**s

    So, GMG made a £2m LOSS on revenues of £52m??!! Wow, does that make it the worst run radio group in the UK ever? Jesus, how did they get away with that for so long? …and the management team will have been being paid well into six-figure salaries to deliver that kind of performance. This boils my p**s.

  2. Dave Wiggy Wiggins

    No this got to be the joke of 2013 Gmg made a £2m Loss on revenues of £52m??!! Wow do that make it the worst run radio group in the Uk ever? Jesus, how did they get away with that for so so long? …and the management team of gmg will have being paid well into six- figure salaries to deliver that kind of performance .This make me so so sick to read this any more now i just hope that global is not going to do this now they have got gmg radio stations smooth radio and real radio in to their group now all eyes will be on global now it is true

  3. Jonny D

    I occasionally wonder why UK commercial radio is such junk. I’ve now found out by reading the job description for PC at Capital South Coast. It’s full of management nonsense – “strategies for consumption”, “commercial led content that grow audiences”. What happened to the soul of that relationship between presenter and listener? Crushed under a mix of “tested” tracks, a limited playlist of the most obvious over played “hits”. Take no chances, feed the audience the same diet of safe familiar twaddle. Give the jocks liner cards with details of the latest money making promotion then turn on the radio tap and pour out bland, predictable, meaningless cotton wool for a brain dead audience. No thanks, you lost my Rajar tick years ago. I just dial up creativity from net stations where passion for music thrives – and there’s no dumb ads up to the top of the hour.

  4. Bright Spark

    Not long now until commercial radio becomes just like ITV did on the twenty eighth of October Twenty-oh-two. What I mean by that is all radio groups merged to form one super network. No thanks.

  5. Joni

    So basically, if it weren’t for the shareholders Global radio would have enough in profits to employ a decent number of producers and put out some actual decent content. Hell they could even reverse a whole load of networking, if they wanted to.

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