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GCap Slows Losses, ‘Focus Is Online Opportunities’; Eyre Appointed

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GCap Media, Britain’s largest radio group, intends to focus on online media after “stabilizing” its plummeting advertising performance. Annual revenue is down nine percent, according to this morning’s trading update (pdf) for 2006/07. But, accounting for changes to ad inventory policy at London’s Capital station and the sale of two other stations, like-for-like performance is more encouraging, with a one percent increase projection for the current quarter. CEO Ralph Bernard: “Now, having stabilized the business, we intend to focus on the excellent opportunities we see in the digital world