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Oneword, the national commercial radio station dedicated to books, plays, comedy and spoken word entertainment, has secured the first programme sponsorship deal in digital radio history with Bloomsbury Publishing Plc. The year-long contract is the first deal in a unique commercial package that includes sponsorship of two new programmes entitled ‘That Was Then' (a topical look at literary anniversaries originated by Bloomsburymagazine.com) and ‘A Word in Your Ear' (a daily word definition from the Encarta Concise English Dictionary). Both programmes will be transmitted from 3rd September, and air hourly every weekday. In addition, Oneword will utilize Bloomsburymagazine.com as an on-line bookshop for listener orders and a range of joint promotions. Oneword's MD Ben Budworth says, "Bloomsbury Publishing has been instrumental in recognizing the role Oneword Radio plays in providing listeners with high quality entertainment that is aimed at a nation of book lovers. As our audience continues to grow, we welcome the support of a publisher of Bloomsbury's stature in raising awareness and confidence in this pioneering radio station." Oneword's Programme Director Paul Kent adds, "Bloomsbury and Oneword are the perfect match, embodying many of the most successful and innovative elements in our respective industries. Working together, we'll be developing a range of projects and programming which will enhance the service we can offer our listeners." Bloomsbury's Chief Executive and MD, Nigel Newton says: "We are delighted that Oneword radio is bringing the finest storytelling directly into the homes and offices of a global audience of bookworms and book-buyers via the air-waves and Internet. In The Encarta Concise English Dictionary and bloomsburymagazine.com we have originated content which can be the basis of exciting radio."
Radio Free Asia is a private corporation that was established in 1996 to provide news and information to listeners in China, Tibet, Vietnam, Burma, North Korea, Laos and Cambodia. It is funded by grants from Congress. RFA's mission is to be a forum for a variety of opinions and voices from within Asian nations whose people do not have full freedom of expression. Listener confidence in the quality and credibility of its broadcasts is RFA's highest priority. RFA is a journalistically independent organization whose autonomy is key to providing objective domestic news and information.
Virgin Radio is the UK's only commercial pop and rock music station. It can be heard on 105.8FM in London, 1215AM nationwide, on any DAB Digital Radio, via Sky Digital, Freeview and the cable TV networks and via WorldSpace. Virgin Radio is the world's most listened to station on the internet and can be heard at www.virginradio.co.uk. Virgin Radio Classic Rock, Virgin Radio Xtreme and Virgin Radio Groove extend the brand across the internet and Sky nationally, and on DAB in London. Virgin Radio is wholly owned by SMG plc.
Capital Radio is the UK's leading Commercial Radio group. The company began broadcasting in 1973 when it became one of the first licensed commercial stations. Since then it has expanded by aquition to operate 22 stations UK wide, it now broadcasts to over half the UK's adult population. Capital Radio has five branded networks - Capital FM Network, Capital Gold, XFM, Century FM and Choice FM.
GWR, the UK's most listened to commercial radio group, has agreed to sell its 49% holding in Vibe Radio Services Limited ("VRSL"), conditional on the prior approval of the OFT, for £17.6 million in cash to Scottish Radio Holdings plc ("SRH"). SRH already owns the remaining 51% of VRSL. The proceeds will be used to reduce further GWR's debt. GWR has sold its holding following the decision of the Competition Minister to follow the recommendation of the Competition Commission's report in relation to the acquisition by VRSL of Galaxy Radio Wales and The West Limited ("Galaxy"), the holder of the regional radio licence covering South Wales and the West of England. As none of the proposed remedies are commercially viable, the Board has decided to sell GWR's holding in VRSL. GWR and SRH have also conditionally agreed that GWR's contracts to sell airtime for and provide other services to VRSL will be terminated. GWR and SRH have been in contact with the OFT and believe that regulatory clearance should shortly be forthcoming. GWR formed VRSL with SRH in September 2002. At the same time GWR sold Eastern Counties Radio Ltd ("Vibe") to VRSL in return for its 49% interest in VRSL and a cash payment of £5.86 million. Vibe operates Vibe FM, the regional radio station covering the East of England. VRSL also acquired Galaxy which operates Vibe 101, the regional radio station covering South Wales and the West of England. Since its inception in September 2002 until 31 March 2003, VRSL had revenues of £1.6 million and reported a pre-tax loss of £925,000 after amortisation, and provision for dilapidations under leases, for rental of unoccupied properties and for relocation costs, of £724,000 in aggregate. In that period, profits before interest, tax and amortisation were £240,000. On 31 March 2003 it had net assets of £17.4 million. GWR estimates that the disposal will be earnings neutral in the current financial year.
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