News in brief - 18 March

LONDON - GCap is continuing with the sale of its Xfm regional stations and has extended the deadline for bids until the end of April. The news is contrary to reports that while it is considering a takeover by Global Radio, that the sale of assets would have to be put on hold.

BBC Magazines and Australia’s ACP Magazines are launching a publishing joint venture in Australia. The 50/50 partnership, to be based in  Sydney, plans to launch two titles this year, starting with an Australian edition of Top Gear Magazine.

Ronseal is to be the exclusive broad-cast sponsor of UKTV Gardens over the Easter weekend. Under the deal, negotiated between sales house IDS and Simon Broderick, senior TV buyer at MediaCom, the paints and coatings firm will promote the Ronseal power sprayer.

GCap Media has bought a majority stake in fledgling business listings and reviews website WeLoveLocal.com for £600,000. The website’s previous owners, Duncan and Max Jennings, have sold a majority stake for £450,000 in cash. GCap will make further payments of £150,000 over the coming weeks.

Google has completed its acquisition of online ad company DoubleClick, after securing European Commission approval for the £3.1bn (£1.5bn) deal.

Thomas H Lee, one of the private equity firms behind the buyout of Clear Channel Communications, has said it is confident the $20bn (£9.9bn) deal will go through. Recent unrest in financial markets has promoted fears that the deal might not be completed.

B&Q’s quarterly customer title, Inspired Living, is relaunching after a redesign with a three million distribution, up from 500,000. The title will be available in B&Q stores and with The Mail on Sunday.

Sony Pictures Television International is set to buy 2Waytraffic – the inde-pendent production firm that owns the rights to Who Wants to Be a Millionaire? – in a £137.5m deal.

Channel 4’s racing coverage took a knock last week after the second day of the Cheltenham Festival was aban-doned due to bad weather. C4 reduced the audience-loss impact by showing racing from Huntingdon instead.

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