It is thought assets of both companies will be held separately while a regulatory review by the Office of Fair Trading is completed. During this period, Ashley Tabor, the chief executive of Global, and Charles Allen, the chairman, will temporarily step down to take the same roles at GCap. Richard Park, currently an executive director, will become the acting chief executive during this time. The current GCap board will be dissolved and the chairman, Richard Eyre, will stand down alongside other non-executive directors.
Fru Hazlitt, the chief executive of GCap Media, is to step down after the acquisition of the radio company by Global Radio, which is scheduled for completion on 6 June.