GMG snaps up two brands from GCap for 60m
Guardian Media Group Radio has bought the two Century FM stations from GCap Media for 60m….
The national and regional sales for the two stations, which are based in Manchester and Newcastle, will continue to be handled by GCap.
The acquisition makes GMG the fourth-largest radio group and brings its portfolio of regional stations to seven. The group also owns the Smooth FM stations, formerly known a Jazz FM, and the Real Radio brand.
It is unclear whether GMG plans to rebrand Century as Real Radio – a GMG spokeswoman says the stations will be reviewed after they have been integrated into the group.
John Myers, chief executive of GMG Radio, says: "There are two very good stations, with great people and in areas of the UK we know well. It gives us increased scale and consolidates our determination to be a major force in radio."
Myers is a former managing director of the Century Radio.
