History
UBC bought the Classic Gold Digital Network which includes digital and analogue licences from GWR Group in two separate transactions in 2000 and 2002 for about £2m. In 2007, UBC effectively sold them back for £3.95m to GCap Media - the company created from the merger of GWR Group and Capital Radio Group.
In July 2006, as part of UBC's move away from owning radio stations, it sold its share in Digital News Network (DNN) for £66k.
In December 2007, UBC bought the remaining 51% stake in Oneword Radio from Channel Four Television for £1, and then closed the loss-making speech DAB radio station one month later.
In May 2008, UBC announced its Commercial Division was being bought by the American company, GTN for £15 million. The deal was expected to complete around the end of July 2008; a definitive agreement was announced in February 2009.
In June 2008, UBC announced it was closing down its loss-making venture Cliq, a service which allowed DAB listeners to download music to onto their mobile phones. The system was designed to be implemented on DAB-enabled mobile phones, but few manufacturers have been interested in adding DAB to their handsets.
Two years on, and the company pulled out of DAB by selling its 7.5% stake in MXR Digital. The stake was bought by fellow shareholder Guardian Media Group for £136,000 plus a one-off cash dividend payment from MXR of £52,000.
The move is part of UBC's strategy to focus on the production of content and the development of interactive software. As part of the agreement, UBC was also released from its spectrum contracts that were due to run until 2015 with MXR. This enabled UBC to release circa £400,000 of provision which had been made to cover this contract.
Read more about this topic: UBC Media Group
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