Earnings: UBC Hit By Cliq Costs, Preps For Possible Sell-Off

Digital radio services outfit UBC Media wrote off almost £2 million after winding down its Cliq mobile/online music downloads service last month.

Cliq was to let users buy songs played on partner radio stations via a mobile Java client, with tracks downloaded to PC, and won support from GMG, Global Radio, Chrysalis and Emap (LSE: EMA). Today’s annual report for the year to March 31 revealed: “The early consumer response was disappointing … The directors recognised that Cliq would continue to require significant levels of investment for the next two to three years.” The report showed UBC poured £3.59 million in to Cliq in the last two years. UBC will now tout the ailing service directly to DAB radio makers.

It also said it will start a strategic review of its business after the planned £11 million sale of its core commercial to Global Traffic Network but “no decisions have as yet been taken on the board