In January, GCap had announced its intention to exit digital radio as far as possible as part of a cost-cutting strategy designed to repel Global's attentions, raising fears about the future of the DAB medium. It said it had agreed to sell its 63% stake in the Digital One multiplex for a nominal sum to Arqiva, its minority partner.
Global last week succeeded in bringing GCap to the negotiating table by raising its offer from 202p a share to 225p a share.
Now The Times has reported that Global has told the Takeover Panel, the stock market regulator, it is not happy for a sale of Digital One to take place until a decision has been made on whether or not it will acquire GCap.
The move raises the possibility of a Global vote of confidence in the future of DAB, which has also been hit by the closure of digital-only stations such as Oneword and GCap's Life. The extent of Global's commitment to DAB has not, however, been clear since it was formed last June.
The Times claims Global does not have the same level of concern about the other asset sales planned by GCap, which are the three Xfm regional stations, in Wales, Manchester and Scotland, and digital stations Planet Rock and TheJazz.
The Takeover Panel last week extended the deadline it gave Global to either make a firm bid for GCap or walk away for six months from March 5 to March 26.
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