Two out of three XFM sales called off by GCap Media
GCap Media has called off plans to sell its XFM Manchester and XFM Scotland radio stations, but will go ahead with the sale of XFM South Wales.
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.