Planet Rock up for sale

By | Published on Wednesday 26 September 2012

Planet Rock

Digital rock station Planet Rock is reportedly up for sale. According to The Guardian, current owner Malcolm Bluemel, who acquired the station from what was then GCap Media in 2008, is already sounding out possible buyers.

Bluemel has invested £3 million of his own money into the venture since 2008, and the company is still making losses of up to £300,000 a year, despite having a RAJAR of about a million listeners, as the UK digital radio market continues to develop at a slow pace.

The Planet Rock chief also recently hit out at those listeners who criticised the station’s launch of a subscription-based premium online service, a bid to create a second revenue stream, adding: “I am not a fat cat. If I was I would have kept my money in my pocket, stayed at home with my wife and children and been £3 million better off”.

Speaking to The Guardian about the proposed sale, Bluemel said: “Digital radio has come of age and Planet Rock is at the forefront of that. I have put four and a half years of my life into this and £3 million of my own money. Some people might say that I was lucky to have it in the first place, but I am not going to walk away from that lightly”.