GCap will not sell its XFM stations in Manchester and Scotland, following Global's £375 million buyout of the company last week.
However XFM South Wales, launched in November, is still up for sale.
According to the Guardian, it is understood GCap's board believes it makes more commercial sense to keep the stations now that they will be part of a much bigger group, provided the Global deal is completed.
However, GCap will still look to offload its south Wales station, the newest service in the XFM network, which launched on November 29 last year.
