The plans come as the biggest radio group in the UK delivered what chief executive Ralph Bernard called "extremely disappointing" financial results to the City, with like-for-like revenues down 11% across the group in the first six months of 2005 and operating profit also down 27% over the same period.
GCap it had outlined three core areas in the business it will concentrate on as it attempts to overhaul the business.
Capital Radio, which as suffered at the hands of arch rival Heart in London in recent months, is to be relaunched on 3 January with a revamped music position, new on-air branding and changes to its news content and programming schedule.
Additionally nine analogue stations in the North West, South West and North Wales will be put up for sale.
Scottish station Beat 106 and the digital station The Storm will be relaunched in and placed under the Xfm umbrella, joining existing stations in London and the recently won FM licence for Manchester.
In the fierce London market GCap will also introduce a radical new advertising strategy in which Capital Radio will only include two ads in a row during breaks, a move that will effectively cut the total time available for advertisers on the station by 50%.
Bernard said: "These results are extremely disappointing and I believe in no way reflect the full potential of the portfolio of assets owned by the Group. We are taking firm management action to improve them.
"We have completed a root and branch review of our businesses and we have developed a clear plan of action which will revitalise GCap, particularly Capital Radio, and return it to growth.
"We have the spread of assets and depth of management to be the winner in the commercial market.
Other revenue streams that GCap hopes to introduce across its network include the use of mobile and email activity for sales of products such as ringtones, downloads, CDs and tickets.
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