Sign In
15 Dec 2010 07:00
15 December 2010
UBC Media Group plc
Contract for Digital Spectrum
UBC announces contract with Absolute Radio for use of Digital radio spectrum.
UBC Media Group is pleased to announce that it has signed a contract with TIML Radio Ltd (trading as Absolute Radio) for the sub-lease of its spectrum on 7 Digital Radio multiplexes in the North of England operated by Bauer Radio.
This spectrum was the subject of an agreement in July between UBC and Bauer, which saw settlement of any outstanding fees to Bauer for the remainder of the multiplex contracts. UBC therefore has no further fees to pay in respect of this spectrum but as part of the deal had the rights to continue to market the spectrum with Bauer retaining a minority percentage of any revenue generated.
Absolute will pay an undisclosed fee for access to the spectrum over the next two years and will use it to broadcast the service "Absolute Classic Rock".
Simon Cole, Chief executive of UBC commented:
"Having settled our liability with Bauer, it was a priority of ours to maximise the value of this spectrum for the remainder of its term. I'm pleased to have been able to conclude a deal with Absolute Radio".
Enquiries:
UBC Media Group | 020 7453 1600 |
Simon Cole, Chief Executive | |
John Falcon, Finance Director | |
Seymour Pierce | 020 7107 8000 |
Mark Percy, Corporate Finance | |
David Banks, Corporate Broking |
Notes to Editors
About UBC Media Group
UBC is quoted on the London Stock Exchange's AIM market. UBC is a leading provider of digital content, software and mobile applications. The Group is the largest independent producer of radio programming for the BBC and a provider of entertainment programming to commercial radio stations throughout the UK. Its software division, Unique Interactive, is a global supplier of digital radio text and data services.
www.ubcmedia.com
Follow the stocks
