Two Scottish business men are reportedly in talks to buy the three regional Xfm stations which are up for sale as part of parent company GCap's current business review, as outlined by recently appointed CEO Fru Hazlitt earlier this month. According to the Scotsman, Gordon Beattie and John Quinn are leading a consortium backed by a Scottish bank to bid for the stations, which includes Xfm Scotland.
Word has it that GCap want a quick sale of the stations, and that bosses there may even hand back the three Xfm licences (in Manchester, Central Scotland and South Wales) to media regulator OfCom if it can't find quick buyers. Bauer Radio - the new name for EMAP Radio - are also said to be interested, possibly to merge the stations into its Kerrang! brand, or to give its Q Radio station, which is currently being overhauled, an FM radio outlet.
As previously reported, GCap's competitors Global Radio are expected to make a second bid to buy the radio firm in the next week or so. It is unclear what impact a Global purchase would have on Hazlitt's plans to move GCap out of digital audio broadcasting and to sell all but the London Xfm station.