BGN Entrepreneur

The UK’s biggest commercial radio business—Global Radia, which owns Heart, Classic FM and Galaxy, is expected to announce this week the sale of five radio station in the Midlands to its rival—Bauer, the privately owned German group, for about £40 million.
The sales is made in order to help Global Radia avoid referral by the Office of Fair Trading to the Competition Commission over its acquisition of GCap Media last August. At the same time, the company will probably restructure its £200 million debt from four lenders into a single bank, allowing it to reduct its repayment charges.

Related posts:

1. Bauer Beaten the Punch in Radio Deal
   The former chief executive of Chrysalis Radio—Phil Riley, has snatched...
2. BBC Hints at Licence Fee Freeze as Leaked Website and Radio Closures are Confirmed
   The chairman of the BBC has given the clearest indication...
3. Level 3 to Buy Global Crossing
   Level 3 Communications announced that it would buy Global...
4. EasyJet Cuts Luton Flights and Axes East Midlands
   Airline easyJet has announced proposals to cut its flights from...
5. Independent to sell Indian Stake
   Independent News & Media is a media organisation based in...