UBC exits digital radio deal
UBC Media has settled an early release with Bauer for its multiplex spectrum contracts.
It means the multimedia content and services company has no more legacy issues or liabilities associated with digital radio spectrum.
UBC will make a one-off cash payment of £2.2m to Bauer in order to release it from its commitment, which would have cost UBC in total £3.1m.
The settlement of the Bauer multiplex contract follows the recent sale of UBC's 7.5 per cent stake in the regional multiplex operator MXR to the Guardian Media Group last month.
Simon Cole, Chief Executive, said: "This settlement with Bauer finally clears UBC of all outstanding legacy issues and liabilities associated with digital radio spectrum. We are now able to focus management effort 100 per cent on the production of content and the development of interactive software. The interplay between content and technology are where we see the real opportunities of the future."
"Our strong balance sheet is in contrast to much of the sector and should create opportunity for us. Our focus is on continuing to grow Gross Margin and EBITDA and continuing our progressive dividend policy"