ACCORDING to reports, the takeover of British radio group, GCAP Media — which owns XFM, Capital Radio and Classic FM — by the JP McManus, John Magnier and Dermot Desmond-backed Global Media, is likely to be concluded on Wednesday.

GCap Media, the UK’s largest commercial radio broadcaster, today axed its two digital-only radio stations after admitting the medium had not matched up to expectations.

The UK's largest commercial radio broadcaster, GCap Media, axed two of its stations today after labelling digital radio "economically unviable".

Classic FM parent group GCap Media today confirmed it had rejected an approach from rival Global Radio potentially valuing the firm at around £313m (€419m).

Gcap Media, the owner of British radio stations Capital and Classic FM said second quarter revenue was set to be ahead of the first three months of the group’s financial year as the radio advertising market continued to improve.

Mother-to-be Myleene Klass showed no signs of slowing her workload today as she celebrated her new album hitting the top spot and a new role as presenter of a prime time show.

The London market staged a rally in afternoon trading today, recouping some of its losses from earlier in the session following falls in China overnight.

British music legends Sting and Paul McCartney have successfully crossed from rock to classical music, after landing nominations for the Classical Brit Awards.

Former Hear'Say singer Myleene Klass is to present the first film show on international news network CNN.

Capital Radio and Classic FM parent group GCap Media today confirmed it had hired former Virgin Radio head Fru Hazlitt as it struggles to turn its fortunes around.

British Radio group Gcap Media painted a gloomy picture today as it posted plummeting profits and admitted the advertising market remained tough.

Investors received a shot in the arm today after the FTSE 100 Index followed the lead of US markets to rise by more than 100 points.

The UK’s biggest commercial radio broadcaster today said its decision to slash the number of adverts on flagship station Capital Radio contributed to a sharp fall in profits.

Surging oil and mining stocks put some gloss on an otherwise lacklustre session for the London market today.

A recovery in heavyweight oil and mining stocks saw the Footsie edge forward today after losses last week.

A string of broker upgrades helped put the FTSE 100 Index on course to set another three-year high today.

ULSTER Television has launched a €130 million bid for The Wireless Group, which runs Britain’s largest commercial talk radio station.

Franz Ferdinand frontman Alex Kapranos faced a different kind of crowd tonight as he took part in a high-brow discussion on the future of music.

The London market followed the lead of Wall Street today as investors went in search of cheap looking stocks.

London shares sparked into life today on the back of positive updates from two market heavyweights and takeover speculation in the logistics sector.

Office and factory staff are switched on to working harder if they can listen to the radio at the same time, new research showed today.

The FTSE 100 Index was testing the 4,600 barrier today after traders were buoyed by a strong session for shares on Wall Street last night.

Classic FM owner GWR and Capital Radio are to merge in a deal creating a company with a 36% share of the UK commercial radio audience.

BRITISH commercial radio giants GWR and Capital Radio were yesterday reported to be in advanced merger talks.

Shares in British radio group GWR rose more than 3% today after it said it had almost doubled profits last year.

British radio group GWR announced today it had joined forces with BT Wholesale to create a new digital service which should boost its revenues by more than £5m (€7.4m) a year.

Classical music is enjoying a renaissance with sales in the UK up by one million last year, according to figures published today.

TODAY FM owner Scottish Radio Holdings’s Irish businesses are not performing as well as its British assets, where full year sales are expected to rise 18% for the full year.

Lord Of The Rings has scored with classical music buffs – by being voted the greatest soundtrack of all time.

Bill Clinton is to play the voice of a wolf in a classical production to be aired this weekend.

MUSIC from the hit film The Lord Of The Rings has beaten works by Holst, Grieg and Dvorak to make it into the top 10 of classical music buffs’ favourites.

Former teenage choirboy Aled Jones is going from cassocks to classics after signing up as a radio DJ today.

Harry Potter may not be a film classic according to Oscars judges but it is a classical favourite after scoring with music fans in an annual survey.

Jonathan Ross will go head to head with Chris Moyles and Ricky Gervais to take a top presenter prize at the radio "Oscars".

The swooping soundtrack to Star Wars is the greatest film score of all time, a poll revealed today.

The Footsie index of 100 leading stocks is ahead 12.8 points at 4708.9 at lunchtime.

A gloomy session on Wall Street is leading to early losses in the City of London as the Footsie index of 100 leading stocks struggles to continue its recent resurgence.

Chris Evans has reportedly lost a third of his £80m fortune during the past year.