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UBC Media

• BY: Andrew Hore |
• POSTED: 14/10/2008 |
• COMMENTS: Add yours

New contracts for UBC Media Group’s commercial division may make it easier to secure its sale to Global Traffic Networks Inc.

Global Radio, which recently acquired GCap, has signed up all its 71 radio stations for travel and travel news. The deal lasts for two years. Bauer’s 35 radio stations have signed a two year extension.

This secures coverage of two-thirds of UK commercial radio’s weekly listeners. The completion of the deal with Nasdaq-listed GTN has been delayed and the signing of these contracts may have been one of the things it had been waiting for. This secures the value fo the business.

The final agreement is expected to be signed by 17 November. There will be an initial cash payment of £11m and deferred payments of up to £5.5m depending on the commercial division‘s turnover in the 12 months following its sale.

UBC shares rose 0.125p to 6.75p each, which values UBC at £13m. 

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