GWR drops out of Melody Radio auction as sale price reaches pounds 25m
Saturday 24 January 1998
According to industry sources, GWR, which operates radio stations in the west of England and on the south coast, felt the price had got too high. The company is also believed to have pulled out because, in the case of a successful bid, it would have surpassed regulatory limits on the share of the audience any radio operator is allowed to control.
A spokesman for GWR declined to comment on the news, which came on the day that final bids for Melody Radio were submitted to Hanson, the building materials group which has put it up for sale. Although Hanson did not disclose the number of offers it had received, GWR's withdrawal is thought to leave three serious bidders in the race - Emap, Scottish Radio and Chrysalis.
The high price on offer for Melody will surprise the industry. Although the station has a large number of listeners, they fall into the older age ranges that are less attractive to advertisers.
- Peter Thal Larsen
- 1 Sabrina Corgatelli: US hunting tourist posts picture of herself with dead giraffe after Cecil the lion outrage
- 2 Katie Hopkins reveals fear she will die during brain surgery to cure epilepsy
- 3 Edward Heath 'child sex abuse' allegation: Investigation to be held into Wiltshire police handling of alleged claim in the 1990s
- 4 Dutch King Willem-Alexander declares the end of the welfare state
- 5 Tom Cruise: Reporters banned from asking actor about Scientology
Sabrina Corgatelli: US hunting tourist posts picture of herself with dead giraffe after Cecil the lion outrage
Katie Hopkins reveals fear she will die during brain surgery to cure epilepsy
'Gene drive': Scientists sound alarm over supercharged GM organisms which could spread in the wild and cause environmental disasters
Edward Heath 'child sex abuse' allegation: Investigation to be held into Wiltshire police handling of alleged claim in the 1990s
Dutch King Willem-Alexander declares the end of the welfare state
Yvette Cooper: Our choice is years of Tory rule under Jeremy Corbyn – or a return to a Labour government
Is Britain really full up? Are migrants taking our jobs? Leading academic answers the most common anti-immigration claims
Calais Migrant Crisis: Deputy Mayor of Calais labels Cameron's use of 'swarm' as 'racist' and 'ignorant'
Chris Leslie: Jeremy Corbyn's anti-austerity agenda will harm the poor, says Labour shadow Chancellor
While we fixate on Calais, the Home Office is quietly deporting dozens of migrants on 'ghost flights'
Landlords renting properties to illegal immigrants to face up to five years in prison
iJobs Money & Business
£21000 per annum: Recruitment Genius: This is an exciting opportunity to join ...
Up to 70k DOE: Guru Careers: We are seeking an experienced Financial Director ...
£11000 - £50000 per annum: Recruitment Genius: This financial company offer ma...
competitive + incentives + uncapped comms: SThree: Did you know? 98% of our di...