Global and GCap agree £375m deal - Radio

Dancc · 31-03-2008, 17:29

Latest: Global and GCap agree £375m deal
Global Radio is poised to buy GCap Media after agreeing a £375m deal.

Source: Broadcast Now

http://www.broadcastnow.co.uk/index.html

mbessex · 31-03-2008, 17:44

Bang bang bang go the final nails into the coffin of GCAP or more exactly GWR.with a few Capital stations.

Global Radio has agreed to buy rival radio company GCap Media in a cash deal worth around £375m.

The deal, which values GCap shares at 225p each, was announced just after 6pm today, barely an hour after the Takeover Panel deadline for merger talks between the two companies had been extended for a further 24 hours.

I'm sorry but after 10 years I am going to make the post I've waited years for.

Let us see every last sign and symbol of GWR and GCAP put in the dustbin of bad history. The company that was worth £750 million and then lost it all.( well at least £500 million )
I can only hope Global ravage the company and staff as GWR did to those that went before them. Of course Bernard, Orchard et al have all moved on but those lapdogs
and Programme Directors who stuck by Orchard and implemented all the central corporate directives deserve to be going the same way. Time for an almighty clear out of people. I can finally close the book on my ten years of hatred of this company and its management knowing that I outlived it and saw it shrink and finally disappear into Global. . I can only hope to see the Bristol site stripped of everything but the bare minimum so they can understand what it is like to be GWRised. We can only hope that GT and the awfulness that is Late Night Love is one of the first to get the chop
.
Now I appreciate that this move is never going to restore my old stations to their glory and possibly ravage them more. More networking, loss of identity etc etc, but the damage was done long ago, the heart and soul of many stations has gone as GWR management put the entire archives in the skip and binned their heritage and implemented their special “sound”. So I can’t blame the new company. So whilst I might not like their style or output I can’t hate them for what another company did as I can GWR, Bernard and Orchard. And whilst I know they are still rich men I hope the destruction and takeover of their pride and joy hurts as much as the pain they’ve caused others through the years.

Tonight I open the Champers and say goodbye to “Local Radio, Nationwide”, and the end of the road for GWR / GCAP.

JamSir · 31-03-2008, 17:46

Here's the Media Guardian take on the Global deal:

Global Radio has agreed to buy rival radio company GCap Media in a cash deal worth around £375m.

The deal, which values GCap shares at 225p each, was announced just after 6pm today, barely an hour after the Takeover Panel deadline for merger talks between the two companies had been extended for a further 24 hours.

Global is paying an 86% premium on the 121p price of GCap shares on January 4. This was the day before Global announced it had approached the board of GCap, which owns Classic FM and London's Capital 95.8.

The directors of GCap intend unanimously to recommend the offer from Global, which owns the Heart, Galaxy and LBC networks.

More at http://www.guardian.co.uk/media/2008...a.globalradio1

james_waters · 31-03-2008, 17:49

Strong views there.

Personally, I just hope that it reopens the chance for more personailty presenters to break through and start chipping away at what the BBC have picked up over the last 5/6 years.

Bluenile · 31-03-2008, 17:50

Let's hope they have the sense to put their station with the most potential, Chill, on Digital One.

dpb · 31-03-2008, 18:10

Quote:

Originally Posted by mbessex

<snip>
Tonight I open the Champers and say goodbye to “Local Radio, Nationwide”, and the end of the road for GWR / GCAP.

I imagine you are very pleased! You enjoy the champers. Being a substantial shareholder it's your round! Enjoy your millions.

Bingethink · 31-03-2008, 18:11

Quote:

Originally Posted by mbessex

I'm sorry but after 10 years I am going to make the post I've waited years for.

???? I've seen you post variants on that theme about half a dozen times a week.

techsmedders · 31-03-2008, 18:12

I know they are probably not, but does this mean they COULD now stop theJazz and Captial Life closing?

mbessex · 31-03-2008, 18:15

Quote:

Originally Posted by Bingethink

???? I've seen you post variants on that theme about half a dozen times a week.

Then you have not read it correctly.
The variants were my wish and now its here and I'm celebrating and marking the occasion with my own special commemorative post. Have a party hat and blower...
Parrrrrrrrp!!!

Martin Phillp · 31-03-2008, 18:16

At long last!

This should be a very exciting chapter in UK Radio with the first supergroup.

chinchin · 31-03-2008, 18:17

Bit of a monopoly though?

mbessex · 31-03-2008, 18:18

Quote:

Originally Posted by dpb

I imagine you are very pleased! You enjoy the champers. Being a substantial shareholder it's your round! Enjoy your millions.

Aw shucks you care enough to recall.
Yes although of course the mismanagement in the last few years wiped quite a lot of my total share value but I'm currently reviewing various options, the med, Australia, Las Vegas, or......................................................................... one of those £10 holidays in the sun.
But rest assured wherever my cashed in shares take me I'll ensure there is Wi-Fi so I can continue to post on DS!!!

Bingethink · 31-03-2008, 18:20

Quote:

Originally Posted by mbessex

Then you have not read it correctly.

Admittedly, I had glazed over a little...

dpb · 31-03-2008, 18:26

Quote:

Originally Posted by mbessex

Aw shucks you care enough to recall.
Yes although of course the mismanagement in the last few years wiped quite a lot of my total share value but I'm currently reviewing various options, the med, Australia, Las Vegas, or......................................................................... one of those £10 holidays in the sun.
But rest assured wherever my cashed in shares take me I'll ensure there is Wi-Fi so I can continue to post on DS!!!

Hehe. The question is will you be responsible for 25% of Global Radio's revenue as well?

DRY_SWEEPER · 31-03-2008, 18:29

Quote:

Originally Posted by techsmedders

I know they are probably not, but does this mean they COULD now stop theJazz and Captial Life closing?

Dont forget Planet Rock, I hope thats the first thing they do

James Kirk · 31-03-2008, 18:39

It'll probably be about four months before Global actually have control of the company

Ray Cathode · 31-03-2008, 18:39

I wish Global good luck but Charles Allen didn't do much for ITV except nearly finish it off.

Martin Kong · 31-03-2008, 18:41

If it was announce tomorrow I would of wondered if it was an april fools joke or not?

marc971 · 31-03-2008, 18:42

Quote:

Originally Posted by mbessex

Tonight I open the Champers and say goodbye to “Local Radio, Nationwide”, and the end of the road for GWR / GCAP.

I think that given time you might just find that it could become "National Radio, nationwide".........................

IBhat · 31-03-2008, 18:42

Quote:

Originally Posted by mbessex

I can only hope to see the Bristol site stripped of everything but the bare minimum so they can understand what it is like to be GWRised. We can only hope that GT and the awfulness that is Late Night Love is one of the first to get the chop

Spare a thought for the 2000+ people working for GCap who have nothing to do with the main decision making of the company, the people who work hard day and night in difficult circumstances. The people who have to support families and put food on the table.

Your post is the most unthoughtful, uncaring, insensitive and nasty post I've ever read on here. And that's saying something.

I hope you lose your job.

mbessex · 31-03-2008, 18:52

Quote:

Originally Posted by IBhat

Spare a thought for the 2000+ people working for GCap who have nothing to do with the main decision making of the company, the people who work hard day and night in difficult circumstances. The people who have to support families and put food on the table.

Your post is the most unthoughtful, uncaring, insensitive and nasty post I've ever read on here. And that's saying something.

I hope you lose your job.

I might, no one is safe now-a-days. But I always work somewhere when ethics matter. ( Wonder how that OFCOM invesigation is going to go or did GCAP rip off listeners?? )

Unfortunatly thier fate is not in my hands or my comments have any bearing on them. So therefore of little consequence in the greater scheme of things. Don't you think that I voice the post that many many read and cheer at? Is that the real point that upsets you. That no one laments the loss of GACP / GWR.

Like it's a surprise?! it says nothing I've not said many many times as Charlie Bunny has said - just now all those people who told me how fantastic GWR was and what a powerhouse of radio is - where are they. Let them come on here and give us a long list of the awards and great achievemewnt sog the group.
They all went quite - stopped defending the company some time ago when it was clear that it had all gone very very wrong.

You should read more posts I'm sure there are worse.
I don't even swear!

the wellser · 31-03-2008, 18:54

Quote:

Originally Posted by Martin Kong

If it was announce tomorrow I would of wondered if it was an april fools joke or not?

Why? It's been on the cards for weeks!

pgfmedia · 31-03-2008, 18:54

A couple of things - will we see:

A rebrand once again of the current websites and logos?

Will mid mornings now become networked on the stations that were owned by gcap?

will the local gold am stations be revamped if ofcom agreed to it?

Martin Kong · 31-03-2008, 18:54

Quote:

Originally Posted by IBhat

Spare a thought for the 2000+ people working for GCap who have nothing to do with the main decision making of the company, the people who work hard day and night in difficult circumstances. The people who have to support families and put food on the table.

I spare a thought to anyone who loose their job whether it has to do with radio or not.

mbessex · 31-03-2008, 18:54

Quote:

Originally Posted by Ray Cathode

I wish Global good luck but Charles Allen didn't do much for ITV except nearly finish it off.

I'm not sure that it's going to be a good thing.
I'd love to be proved wrong.

31-03-2008, 17:29	#1
Dancc Forum Member Join Date: Dec 2004 Location: Northamptonshire Services: Freeview, Virgin Broadband, Xbox Live Posts: 18,826	Global and GCap agree £375m deal Latest: Global and GCap agree £375m deal Global Radio is poised to buy GCap Media after agreeing a £375m deal. Source: Broadcast Now http://www.broadcastnow.co.uk/index.html

31-03-2008, 17:44	#2
mbessex Forum Member Join Date: Oct 2003 Posts: 1,507	Oh happy day!!!! Bang bang bang go the final nails into the coffin of GCAP or more exactly GWR.with a few Capital stations. Global Radio has agreed to buy rival radio company GCap Media in a cash deal worth around £375m. The deal, which values GCap shares at 225p each, was announced just after 6pm today, barely an hour after the Takeover Panel deadline for merger talks between the two companies had been extended for a further 24 hours. I'm sorry but after 10 years I am going to make the post I've waited years for. Let us see every last sign and symbol of GWR and GCAP put in the dustbin of bad history. The company that was worth £750 million and then lost it all.( well at least £500 million ) I can only hope Global ravage the company and staff as GWR did to those that went before them. Of course Bernard, Orchard et al have all moved on but those lapdogs and Programme Directors who stuck by Orchard and implemented all the central corporate directives deserve to be going the same way. Time for an almighty clear out of people. I can finally close the book on my ten years of hatred of this company and its management knowing that I outlived it and saw it shrink and finally disappear into Global. . I can only hope to see the Bristol site stripped of everything but the bare minimum so they can understand what it is like to be GWRised. We can only hope that GT and the awfulness that is Late Night Love is one of the first to get the chop . Now I appreciate that this move is never going to restore my old stations to their glory and possibly ravage them more. More networking, loss of identity etc etc, but the damage was done long ago, the heart and soul of many stations has gone as GWR management put the entire archives in the skip and binned their heritage and implemented their special “sound”. So I can’t blame the new company. So whilst I might not like their style or output I can’t hate them for what another company did as I can GWR, Bernard and Orchard. And whilst I know they are still rich men I hope the destruction and takeover of their pride and joy hurts as much as the pain they’ve caused others through the years. Tonight I open the Champers and say goodbye to “Local Radio, Nationwide”, and the end of the road for GWR / GCAP. Last edited by mbessex : 31-03-2008 at 17:46. Reason: update info

31-03-2008, 17:46	#3
JamSir Forum Member Join Date: May 2003 Location: Edgbaston, Birmingham Services: Freeview, Virgin Media (XL + Sky Sports), DAB Digital Radio Posts: 782	Here's the Media Guardian take on the Global deal: Global Radio has agreed to buy rival radio company GCap Media in a cash deal worth around £375m. The deal, which values GCap shares at 225p each, was announced just after 6pm today, barely an hour after the Takeover Panel deadline for merger talks between the two companies had been extended for a further 24 hours. Global is paying an 86% premium on the 121p price of GCap shares on January 4. This was the day before Global announced it had approached the board of GCap, which owns Classic FM and London's Capital 95.8. The directors of GCap intend unanimously to recommend the offer from Global, which owns the Heart, Galaxy and LBC networks. More at http://www.guardian.co.uk/media/2008...a.globalradio1

31-03-2008, 17:49	#4
james_waters Forum Member Join Date: Jan 2005 Services: Nokia 7100i and an Alba Stereo Posts: 431	Strong views there. Personally, I just hope that it reopens the chance for more personailty presenters to break through and start chipping away at what the BBC have picked up over the last 5/6 years.

31-03-2008, 17:50	#5
Bluenile Inactive Member Join Date: May 2006 Location: Wigan, Lancashire. Services: Eton E5 AM/FM/SSB receiver. o2 8meg adsl, Vista HP Posts: 11,454	Let's hope they have the sense to put their station with the most potential, Chill, on Digital One.

31-03-2008, 18:12	#8
techsmedders Forum Member Join Date: Nov 2007 Location: Chesterfield Services: Freeview, DAB, etc... Posts: 349	I know they are probably not, but does this mean they COULD now stop theJazz and Captial Life closing?

31-03-2008, 18:16	#10
Martin Phillp Forum Member Join Date: Sep 2001 Location: London Services: Freeview (Sharp TU-R160H) and DAB Posts: 10,939	At long last! This should be a very exciting chapter in UK Radio with the first supergroup.

31-03-2008, 18:17	#11
chinchin Forum Member Join Date: Oct 2003 Location: England Posts: 14,676	Bit of a monopoly though?

31-03-2008, 18:39	#16
James Kirk Forum Member Join Date: Mar 2008 Posts: 37	It'll probably be about four months before Global actually have control of the company

31-03-2008, 18:39	#17
Ray Cathode Forum Member Join Date: Jun 2005 Gender: Not specified Location: Guildford / Crystal Palace Services: Freeview; TUTV; FreeSat HD; FTA DSAT; DAB; FM; DAT45 + MRD; Log Periodic Posts: 7,452	I wish Global good luck but Charles Allen didn't do much for ITV except nearly finish it off.

31-03-2008, 18:41	#18
Martin Kong Forum Member Join Date: Feb 2003 Location: Coventry. UK. Services: Sky Digital, Sky Broadband (yes someone had to take up their service) Posts: 1,609	If it was announce tomorrow I would of wondered if it was an april fools joke or not?

31-03-2008, 18:54	#23
pgfmedia Forum Member Join Date: Dec 2006 Posts: 950	A couple of things - will we see: A rebrand once again of the current websites and logos? Will mid mornings now become networked on the stations that were owned by gcap? will the local gold am stations be revamped if ofcom agreed to it?