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Business News Deals Media
GTN buy UBC’s news and travel division
By CMU Editorial | Published on Wednesday 4 February 2009
Canadian travel news company Global Traffic Network has bought the commercial division of UK-based UBC Media, which operates UBC’s traffic and travel news operation as well as other news and entertainment news services used by commercial radio stations all over the country.
The deal, said to be worth £9million, will reportedly see GTN acquire UBC’s COO John Quinn, who they see as being crucial to the company’s success. UBC CEO Simon Cole will also have to sign a three year non-compete clause.
Assuming those and other conditions are met, GTN could acquire the UBC division as early as next month.