GCap Media is launching a single classic hits network after taking full control of the 18 Classic Gold AM radio stations by buying out joint venture partner UBC Media for £3.95m.
The Capital Radio owner says it plans to merge the Classic Gold services with its existing Capital Gold stations.
Gcap Media chief executive Ralph Bernard says the company supports Ofcom’s announcement that it is considering a switch-off date for the AM signal because it would accelerate the uptake of digital audio broadcasting (DAB).
“Acquiring these stations will enable us to create a single classic hits network with the potential to become a fast-growing national brand as audiences increasingly migrate to digital platforms,” he says.
Classic Gold Digital was a joint venture between UBC Media, which had 80% and Gcap Media who owned the remaining 20%.