Guardian Media Group drops hints at expansion for radio

by MediaWeek, Media Week 27-Apr-04, 17:32

Growth will be the key word in the future of the Guardian Media Group’s radio division, according to bosses unveiling huge revenue increases this week.

A trading update ahead of its full results in July from GMG Radio revealed a 61% increase in annual turnover to £21m.

GMG Radio chief executive, John Myers, said: “GMG Radio has enjoyed a very positive year, outperforming its peers within the industry on a number of fronts.

“With strong support from its parent, GMG, it is well placed to continue to grow.”

GMG chief executive, Bob Phillis, also hinted at expansion for the group, a move supposedly made easier late last year for the industry as a whole when the new Communications Act came into force.

He said: “Radio is an important part of GMG’s portfolio of media businesses.

“We are delighted with the progress made by all 5 stations during the year and I look forward to further growth and commercial success based on these solid foundations.”