MXR operates regional multiplexes in the North East, North West, South Wales and Severn Estuary, West Midlands and Yorkshire and is now owned jointly by Global Radio (51%), GMG Radio and Arqiva (12%).
GMG Radio bought UBC Media's 7.5% share for £136,000 in cash and a one-off cash dividend payment from MXR of £52,000 and Ford's 5% share for an undisclosed sum.
The sale of 7.5% of MXR is part of UBC Media's strategy to focus on the production of content and the development of interactive software and comes as GMG Radio announces it is to become the latest radio station to use UBC's iTunes tagging software.
As part of deal UBC has been released from its spectrum contracts that run to 2015 with MXR. This has enabled UBC to release around £400,000 which had been put aside to cover this contract.
In a statement UBC said the net impact in the current financial year will be a circa £400,000 one-off gain to net profit, a £136,000 gain to operating profit on the sale of the investment and a cash inflow of £188,000.
GMG Radio is to offer iTunes tagging to users listening to GMG Radio's 12 radio stations on the FM tuner of the iPod nano using software created by UBC's Unique Interactive.
Listeners will be able to click the wheel on the iPod nano to tag a song they are listening to on a GMG station and then preview or buy their tagged songs easily when they sync their iPod with iTunes.
Stuart Taylor, chief executive of GMG Radio, said: "We are delighted to provide this service to our audiences, further enhancing their listening experience to our stations."
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