XFM's Manchester and Scotland stations win reprieve
GCap Media has relented on plans to sell all of its regional XFM stations, following its £375million buyout by Global Radio.
Following GCap's £375million buyout by Global Radio, the firm revealed to staff yesterday that it had relented on its plan to sell off all the regional XFM stations outside London.
It was announced in February that GCap would sell its three regional XFM offerings, or hand back their licences to Ofcom as part of cost-cutting measures.
It is understood the firm believe, as it is now part of a bigger group, that keeping at least two of the stations has become a commercially viable option.
XFM South Wales, launched in November last year, is the newest station in the XFM stable. It is yet unclear whether the original parties interested in buying all three stations, which included Gordon Beattie, founder of Beattie Communications, will have a rekindled interest in just buying the South Wales station.