Media round-up: Telegraph Group changes name and offers made for GCap stations

LONDON – In a round-up of news from the holiday period, the Telegraph Group is to change its name to Telegraph Media Group, as Maiden confirms interest and GCap receives offers for its local radio stations.

As well as the name change, the publisher of the Daily Telegraph is to move offices from Canary Wharf to Victoria Plaza in Buckingham Palace Road during the summer.

Murdoch MacLennan, chief executive of the Telegraph Group, said: "The new name will reflect the modern, competitive and diverse nature of our business and the variety of products – from papers to Podcasts – that we have to offer."

Heart appoints deputy programme director
London radio station Heart has appointed Priscilla Williams as deputy programme director, filling the role left vacant by Mark Browning's promotion to programme director in August last year. Williams, formerly the station producer, has been on maternity leave and will return in February.

GCap receives offers for commercial stations
GCap Media is believed to have received offers for the nine local radio stations it is auctioning off from companies including Ulster Television, the Local Radio Company and Australian bank Macquarie. GCap is running the auction itself instead of handing the process to an investment bank. The stations include Plymouth Sound and Wales' Coast FM.

Maiden receives approaches
Outdoor advertising group Maiden has revealed that it has received a number of preliminary approaches since it appointed investment bank N M Rothschild to look at strategic options including the sale of the company. The company had revealed deteriorating financial results.

WSJ Asia appoints new editor
The Wall Street Journal Asia has appointed John Bussey as its new editor, replacing Reginald Chua, who has been named assistant managing editor of the Wall Street Journal. Bussey will continue in his current position as deputy managing editor of the Wall Street Journal.

Viacom splits into two
US media group Viacom has completed its division into two companies, Viacom and CBS. It has given shareholders one new Viacom share and one CBS share in exchange for each old Viacom share they owned.

Chairman and CEO Sumner Redstone has become chairman of the two companies but has relinquished the chief executive role to Thomas Freston at Viacom and Leslie Moonves at CBS.

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