GCap axes 2 radio services

[Analoguesat]

We will soon be waving a fond farewell to Planet Rock and The Jazz

GCap is closing digital-only stations theJazz and Planet Rock and selling its stake in Digital One, chief executive Fru Hazlitt announced today.

It is part of a package of reforms she says will increase annual profit by £12.3m with the aim of preventing a takeover by Global Radio.

Hazlitt said DAB was "not an economically viable platform for the company" which wants to focus "on platforms that listeners want and that generate higher revenues and profit".

Full report:
_http://www.digitalspy.co.uk/broadcasting/a89057/gcap-to-close-two-digital-stations.html

[Analoguesat]

The regional XFM analogues will go too - possibly closed at the end of March:

The proposed closure of Planet Rock and theJazz, and disposal of our Xfm
regional stations, all by 31 March 2008, should improve profits by £1.5 million
compared to this year's forecasts for those stations. If we are unable to
dispose of the Xfm regional stations, these licences will be handed back to
Ofcom on 28 March 2008 reducing this saving by £0.4 million. The savings
identified in this release assume the stations are closed from 28 March 2008 -
the net savings reflect the loss of this year's forecast revenues from the two
stations of £1m in total and gross costs of £1.7m.