Trouble across the pond


US firm Global Traffic Network is said to be applying the brakes in a $26.5M acquisition of the traffic, news and entertainment operations of a UK outfit, UBS Media. The problem? According to, it’s a Q2 radio revenue drop of 10.2% year over year. The drop is said to be stark, because the UK radio business actually did pretty well Q1. GTN is seeking to extend closing, originally targeted for 10/20/08, an additional two weeks for further due diligence.