EMI pulls out of radio business with sale of GWR stake

campaignlive.co.uk, Tuesday, 30 November 1999 12:00AM

– EMI, the world's third largest music company, has sold its 13.3 per cent stake in the radio holding group, GWR, to institutional investors for £81.4 million.

– EMI, the world's third largest music company, has sold its 13.3 per cent stake in the radio holding group, GWR, to institutional investors for £81.4 million.

The sale is part of an ongoing strategy being pursued by EMI to withdraw from non-core businesses. It is seeking to focus itself purely on music operations as it faces up to developing its business for the internet and other digital platforms.

GWR owns a network of local radio stations including GWR Bristol as well as the national UK radio station Classic FM.





This article was first published on campaignlive.co.uk

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