Global Radio lodges appeal against Competition Commissions ruling to sell off stations
Global Radio has revealed it is to appeal the Competition Commissions ruling that it must sell off radio stations in seven markets following the takeover of GMG Radio last summer.
The Competition Appeal Tribunal (CAT) has received an application from Global Radio calling for a review of the final decision which was passed last month.
In a short statement issued this morning Global Radio commented: “Global continues to engage with the Commission proactively on remedies discussions, in parallel with the case now proceeding before the CAT, and has appointed Lepe Partners as its strategic advisors on potential divestments.”
The appeal is based on a number of grounds including the Competition Commissions order to sell several stations across the UK and is likely to take anything up to six months to complete.
If the outcome of the appeal goes against Global the company is in a position to sell off the stations it needs to quickly, however, the timescale of the appeal means the deal made in June 2012 now won’t be resolved until 2014.