- Classic FM is extending its brand onto television, rebranding the Performance Channel -- which is owned by its 18.8 per cent shareholder Daily Mail & General Trust -- as Classic FM TV.
The channel will be rebranded by the end of the year, may be moved from its cable platform to a satellite one. Ralph Bernard, the chief executive of GWR, said: "Rebranding it will not be a major job, as the hard task of establishing its brand values has already been done."
The announcement came with the preliminary results for Classic's parent company, GWR, which showed a 21.5 per cent increase in turnover from £84.2 million to £102.3 million and a 37.5 per cent increase in underlying pre-tax profit from £18.1 million to £24.9 million..
It also emerged that GWR had come close to buying the radio assets of DMG but, as Bernard explained: "We looked at the possibility, but it was not possible under the current market conditions."
However, the two companies are to bring their media interests closer together, with cross marketing and listener/readership promotion opportunities between Classic FM and the Daily Mail and Mail on Sunday; Northcliffe Newspapers and GWR's local stations, and London News Radio with the Evening Standard and Metro.
Additionally, the stations are to team up to provide new internet services, trialling in the local markets at first. Bernard said: "Historically, local radio stations and newspapers have been at loggerheads, which is daft. With local papers reaching the older members of the community, and the FM stations targeting the younger ones, there are plenty of opportunities in the area."