Feeds

Wheezing Guardian flogs radio biz for quick cash

Rumoured spelling errors on paperwork could delay deal

Boost IT visibility and business value

The Guardian newspaper may not actually be published on paper for very much longer – but the sale of the parent group's radio stations to Global Radio may buy it a little more time.

The UK's largest commercial radio company, Global Radio, yesterday acquired GMG Radio – which runs the Smooth Radio and Real Radio stations – for around £70m. GMG has used Global's sales teams for several years.

Rivals including Bauer, which owns 19 local stations and seven national stations, and UTV, which owns TalkSport, point out that the acquisition hands Global over 50 per cent of the UK commercial radio market. Both have publicly called for a competition enquiry. When Global acquired GCap Media in 2008 it was forced to divest some stations.

The Sunday Times reports that the Guardian and Observer newspapers are on course to make a loss of around £45m this year – more than £120,000 a day – up from the £38.3m the papers lost last year. The Guardian even managed to lose money on an 'Open Weekend' for which 5,000 readers paid £40 to £60 to attend.

The Guardian Media Group was reportedly testing reactions to a Guardian-branded "hotel concept" earlier this year.

Sales of the 20p newspaper i have hit the Graun harder than its rivals: it was down 18.3 per cent in May, compared to the 9.5 per cent dip of the Telegraph and a 11.4 per cent dive for the Times. ®

Next gen security for virtualised datacentres

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Fast And Furious 6 cammer thrown in slammer for nearly three years
Man jailed for dodgy cinema recording of Hollywood movie
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
5 things you didn’t know about cloud backup
IT departments are embracing cloud backup, but there’s a lot you need to know before choosing a service provider. Learn all the critical things you need to know.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?