LONDON (ShareCast) - UBC Media has closed the loss making digital radio station, OneWord Radio.
“With the sale in June 2007 of Classic Gold for £3.95m and the closure of Oneword Radio, UBC has now completed the implementation of a strategy that sees us 100% focussed as a radio services company,” said chief executive Simon Cole.
UBC said in November that it had written off its 49% investment in OneWord and was looking at ways of exiting the business. In December, the group took control of the radio station from Channel 4, which held the other 51% stake.