GCap staff were told last Thursday that the company has decided to hold on to the two stations.
A GCap spokesman said: "It is a decision the GCap board has come to in light of the fact we are to become part of a bigger company (Global Radio) and these stations will fit well within a larger portfolio."
In February, the company announced plans to dispose of its three Xfm regional stations, as part of a major strategy update by incoming chief executive Fru Hazlitt.
Xfm South Wales launched last November and it is unclear whether the original parties interested in buying all three stations, said to include Adam Findlay, son of Richard Findlay, chairman of Virgin Radio owner SMG, and entrepreneurs John Quinn and Gordon Beattie, will still bid for the South Wales station.
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