GCap Media
GCap Media was a British commercial radio company formed from the merger of the Capital Radio Group and GWR Group. The merger was completed on 9 May 2005. It was listed on the London Stock Exchange and was a constituent of the FTSE 250 Index. On 31 March 2008 the company agreed a takeover by Global Radio for £375 million.[1] This was completed on 6 June 2008, and the company became a wholly owned subsidiary of Global Radio.[2]
"GWR Group" redirects here. For the current train operator with this name, see Great Western Railway (train operating company).Company type
Defunct
Media
2005
2008
Bought by Global Radio
London
Ralph Bernard (2005–07),
Steve Orchard (2005–08),
Fru Hazlitt (2007–08),
David Mansfield (2005),
Ashley Tabor (2008)
Broadcasting
On 1 November 2008, Global Radio discontinued using the name GCap Media.[3]
Pre-merger[edit]
Capital Radio Group[edit]
Capital Radio Group was, until May 2005, a London-based British radio group. The company was originally set up to operate a General Entertainment Independent Local Radio service in October 1973. Capital Radio was the second legal commercial radio station to launch in the UK, a few days after London news station LBC. In the 1980s the station was allowed to operate separate services on AM and FM.
Changes to media ownership laws meant that Capital Radio Group was able to acquire other stations throughout the UK, becoming a powerful player in the UK's commercial radio industry; before the merger with GWR. In 1993, Capital bought BRMB, and in 1994 the Southern Radio Group which owned Southern FM, Invicta FM, Power FM and Ocean FM, Fox FM in Oxfordshire and Red Dragon FM in Wales were also purchased in the 90s. Capital also acquired the Century FM stations in 2000 as well as Border Television to acquire its radio stations (subsequently selling the station to Granada plc a year later). All in all, Capital Radio Group controlled 22 analogue and 59 digital radio licences. In July 1998 Capital Radio Group bought the financially troubled "alternative" radio station, Xfm.
In the early 21st century, Capital Radio Group expanded its range of FM stations, and also started broadcasting digital-only stations such as Capital Disney and Capital Life.
GWR Group[edit]
GWR Group was a British radio company with major assets including the nationwide station Classic FM and an extensive network of independent local radio stations in the UK. The letters "GWR" were chosen because its launch coincided with the reopening of the Great Western Railway in Bristol in 1985.
Between 1996 and 1999 GWR was a major shareholder in London News Radio, which owned and operated London's LBC and News Direct radio stations. These stations were sold to Chrysalis Radio in 2002.
GWR was owned by Daily Mail and General Trust plc (majority share), various asset management firms, Sir Peter Michael and other small shareholders. Until the merger, the group was chaired by Ralph Bernard and its head office was in Passage Street, Bristol.
During its existence, GWR acquired the Marcher Radio Group, Mid Anglia Radio Group, Chiltern Radio Group and East Anglian Radio Group to name but a few.[4]
Takeover by Global Radio[edit]
The Office of Fair Trading conducted an investigation into the takeover of GCap by Global and cleared it in August 2008,[10] on the condition that BRMB, Beacon Radio, Mercia FM, Wyvern FM and Heart East Midlands were sold to satisfy competition concerns.
On 23 September 2008, it was announced that Fun Radio had been sold to Folder Media, leaving Chill as GCap's only digital station.[11]