23 Feb 2009 17:38
UBC Media Group plc
("UBC" or the "Company")
Results of General Meeting
UBC, the supplier of audio content and broadcast data software to the radio industry, is pleased to announce that the ordinary resolution proposed at its General Meeting held earlier today for the conditional sale to Global Traffic Network, Inc. of the Company's Commercial Division (the "Sale") was duly passed. The Sale is expected to be completed on or around 2 March 2009.
Ends
Enquiries
Simon Cole, CEO, UBC Media Group plc Tel: 020 7453 1600
Mark Percy or Sarah Jacobs, Seymour Pierce Limited Tel: 020 7107 8000
Notes to Editors
About UBC Media Group
UBC is quoted on the London Stock Exchange's AIM market. UBC is the market leader in the supply of audio content to the radio industry in the UK. In addition to the entertainment, traffic & travel and national news services provided to commercial radio, the Group is the largest independent producer of radio programming for the BBC. It is part of the MXR Digital Radio Multiplex consortium.
For more information, visit the Company's website at www.ubcmedia.com.
About Global Traffic Network Inc.
Global Traffic Network, Inc. (Nasdaq: GNET) is a leading provider of custom traffic and news reports to radio and television stations outside the U.S. The Company operates the largest traffic and news network in Australia, operates traffic networks in eight Canadian markets and has recently commenced operations in the United Kingdom. In exchange for providing custom traffic and news reports, television and radio stations provide Global Traffic Network with commercial airtime inventory that the Company sells to advertisers. As a result, radio and television stations incur no out-of-pocket costs when contracting to use Global Traffic Network's services.
For more information, visit Global Traffic Network, Inc.'s website at www.globaltrafficnetwork.com.