Its announcement earlier today that it's pulling out of a consortium in which it is the majority shareholder was due to the current state of the media market and in particular the fall in advertising.
One of the stations was to be a competitor to Radio 4.Although the broadcaster will save £10m next year on the back of this announcment,it may have been its commitment to the digital radio medium rather than the economic cl mate that was to blame.
There had been signs over the past few months that the station was having doubts and the actions of other media groups with GCap springing to mind.
John Plunkett writing on Guardian media says
Commercial radio groups have been reluctant to invest further in the platform because, despite encouraging takeup of digital audio broadcasting (DAB) radio sets, they have been unable to make it pay.
There is now only one national commercial digital station not already available on analogue, Planet Rock.
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