We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
E-Tracs Usb Bloomberg Commodity Index Exchange Traded Notes E-Tracs Ubs Bloomberg Cmci Livestock Etn (delisted) | AMEX:UBC | AMEX | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 18.15 | 0 | 01:00:00 |
RNS Number:0901U UBC Media Group PLC 12 January 2004 12th January 2004 UBC Media Group plc UBC Media Group plc announces a restructuring of its joint venture company, Oneword Radio Limited UBC Media Group plc ("UBC"), the leading independent programme producer and radio broadcasting company, today announces the restructuring of the operations of its joint venture, Oneword Radio Limited. The restructuring will include reviewing commercial operations involving redundancies that will result in a significant reduction of its ongoing costs. Oneword Radio Limited broadcasts the Sony Radio Academy Award-winning national digital commercial radio station, Oneword Radio, and is the only national commercial digital radio station dedicated to the spoken word. The station is available on DAB digital radio, BSkyB, Freeview and the Internet. UBC does not expect that this restructuring of Oneword Radio will have an impact on the financial results for the current financial year. UBC currently has a 50% interest in Oneword Radio Limited and remains committed to its further development. As part of the restructuring of the station, UBC is in negotiations with its joint venture partner, the Hong Kong-based conglomerate, USI Holdings Limited, to increase UBC's shareholding in Oneword Radio Limited to 100%. While the terms of the proposed transaction have still to be finalised, the purchase consideration for USI Holding's 50% shareholding is expected to be satisfied through the issue of new ordinary shares in UBC representing less than 1.5% of UBC's current issued share capital. In the event UBC increases its interest in Oneword Radio to 100%, the restructuring announced today will ensure that the operating costs of Oneword Radio in the financial year commencing 1 April 2004 will continue to be in line with UBC's current level of investment in the station. Simon Cole, Chief Executive of UBC commented: "We now know that Christmas saw very strong sales of digital radios in the shops. There is now no doubt that the future of the radio industry is digital and UBC has, since IPO in 2000, built up a range of digital radio assets. The challenge now is to consolidate these assets and deliver profit from them. This deal restructures the cost base at Oneword in such a way that UBC expects to able to take total control of the only national commercial digital speech service in the UK without increasing the level of investment this year. We can now fully integrate Oneword within UBC as we concentrate on building revenue." -END- For further information, please contact: Simon Cole, CEO, UBC Media Group plc Tel: 020 7453 1600 Tim Allan, Portland, for UBC Media Group plc Tel: 020 7404 5344 Notes to Editors: UBC Media Group plc is a UK public company quoted on the London Stock Exchange's AIM market. The Group is a market leader in the supply of content to the radio, Internet and digital television industries in the UK. In addition to the entertainment and financial news services provided to commercial radio, the Group is the largest independent producer of radio programming for the BBC. The Group also has significant digital radio interests including Classic Gold Digital, the nationally distributed classic hits format. It is also part of the MXR consortium. High resolution images are available for the media to view and download free of charge from http://www.vismedia.co.uk This information is provided by RNS The company news service from the London Stock Exchange END REPQKCKQFBKDBDK
1 Year E-Tracs Usb Bloomberg Commodity Index Exchange Traded Notes E-Tracs Ubs Bloomberg Cmci Livestock Etn (delisted) Chart |
1 Month E-Tracs Usb Bloomberg Commodity Index Exchange Traded Notes E-Tracs Ubs Bloomberg Cmci Livestock Etn (delisted) Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions