Xfm and Digital One sale on hold
GCap Media are holding back any decision to sell Xfm stations and their stake in Digital One, pending the possible takeover by Global Radio. It is thought that Global Radio has told the Takeover Panel that it is not happy for a sale of the national digital multiplex to take place whilst a decision is still pending.
A report, in today's Times newspaper says GCap has been forced to hold off on the DAB sale to Arqiva while takeover talks continue with Global.
GCap need to make a decision by March 26th – just two days after Easter Monday – if they will accept Global Radio's third and final offer of 225 pence per share.
GCap boss Fru Hazlitt said on February 11th she will shut or sell Xfm by the end of March, and close down digital stations Planet Rock and theJazz (apparently on on March 28th) in a major cost-cutting exercise.