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Clear Channel Monitors Possible Merger in U.K.

Clear Channel Monitors Possible Merger in U.K.

Could Clear Channel become a big player in broadcasting in the United Kingdom?
A U.K. newspaper reports that the company is “closely monitoring” talks about a possible $1.25 billion merger between Capital Radio and GWR. An industry group said that, combined, GWR and Capital would control some 40% of the national radio advertising market there.
“Industry sources said Clear Channel could launch a bid for the enlarged group if the deal passes regulatory hurdles,” the newspaper reports.
It quotes a Clear Channel spokesman as saying, “We believe UK radio absolutely needs consolidation. There are too many companies for the size of the market. It would be good for the medium and good for the advertisers. For us, we are going to watch the mating dance with fascination.”
Any deal would have to be approved by one or more U.K. government bodies.