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Gaydar Radio owner QSoft quits radio, blaming cost of digital investment Gaydar Radio owner QSoft quits radio, blaming cost of digital investment
(about 3 hours later)
Gaydar Radio owner QSoft Consulting is quitting the radio business, blaming the cost of investing in digital for holding back its other business interests.Gaydar Radio owner QSoft Consulting is quitting the radio business, blaming the cost of investing in digital for holding back its other business interests.
QSoft's two digital audio broadcasting (DAB) radio licences will be transferred to Manchester-based broadcaster Gaydio on Monday, 7 January, marking the end of the 11-year-old Gaydar Radio brand.QSoft's two digital audio broadcasting (DAB) radio licences will be transferred to Manchester-based broadcaster Gaydio on Monday, 7 January, marking the end of the 11-year-old Gaydar Radio brand.
Gaydar Radio broadcasts will switch from QSoft's Twickenham HQ in west London to Gaydio's Manchester base.Gaydar Radio broadcasts will switch from QSoft's Twickenham HQ in west London to Gaydio's Manchester base.
QSoft said Gaydar had a total of around 750,000 listeners per month via DAB, online and mobile. As part of the agreement between Gaydio and QSoft, Gaydar's dating brand will feature heavily in on-air editorial programming and advertising support.QSoft said Gaydar had a total of around 750,000 listeners per month via DAB, online and mobile. As part of the agreement between Gaydio and QSoft, Gaydar's dating brand will feature heavily in on-air editorial programming and advertising support.
The company, majority owned by Henry Badenhorst and co-founded with fellow South African Gary Frisch, who died in 2007, said the exit would enable it to concentrate on its core businesses, including the Gaydar.co.uk dating site.The company, majority owned by Henry Badenhorst and co-founded with fellow South African Gary Frisch, who died in 2007, said the exit would enable it to concentrate on its core businesses, including the Gaydar.co.uk dating site.
QSoft chief executive Trevor Martin said: "The challenges of the DAB radio sector have been well documented and were increasingly holding QSoft Consulting back from investing in its core dating business, which continues to expand in the UK and internationally."QSoft chief executive Trevor Martin said: "The challenges of the DAB radio sector have been well documented and were increasingly holding QSoft Consulting back from investing in its core dating business, which continues to expand in the UK and internationally."
He added: "Everyone associated with Gaydar Radio should be immensely proud of what the station has achieved. The transfer of the DAB licences to Gaydio will ensure that the time and money invested in GaydarRadio will continue to live on and be supported in an appropriate way, with the support of the Gaydio FM licence."He added: "Everyone associated with Gaydar Radio should be immensely proud of what the station has achieved. The transfer of the DAB licences to Gaydio will ensure that the time and money invested in GaydarRadio will continue to live on and be supported in an appropriate way, with the support of the Gaydio FM licence."
The exit comes nearly a year after QSoft sought "significant cash investment" and a possible sale of the business.The exit comes nearly a year after QSoft sought "significant cash investment" and a possible sale of the business.
QSoft's decision is a sign of the difficulties that digital-only broadcasters have in making any money, despite the gradual increase in digital listening.QSoft's decision is a sign of the difficulties that digital-only broadcasters have in making any money, despite the gradual increase in digital listening.
A spokesman for QSoft Consulting said all terms of the transfer of the licences were "confidential".A spokesman for QSoft Consulting said all terms of the transfer of the licences were "confidential".
The company said the challenging issues affecting the success of the digital radio station had impacted on the performance of its core dating business and the ability of the management team to invest sufficiently in it, including the Gaydar.co.uk and GaydarGirls.com dating sites, mobile sites and apps.The company said the challenging issues affecting the success of the digital radio station had impacted on the performance of its core dating business and the ability of the management team to invest sufficiently in it, including the Gaydar.co.uk and GaydarGirls.com dating sites, mobile sites and apps.
The owner of another high-profile digital-only station, Planet Rock's Malcolm Bluemel, has also explored a possible sale of his loss-making digital station.The owner of another high-profile digital-only station, Planet Rock's Malcolm Bluemel, has also explored a possible sale of his loss-making digital station.
Gaydar Radio began broadcasting as an internet-only radio station in 2001. It later expanded into DAB radio, where it continues to broadcast in London and Sussex, and on Sky Digital until 2010.Gaydar Radio began broadcasting as an internet-only radio station in 2001. It later expanded into DAB radio, where it continues to broadcast in London and Sussex, and on Sky Digital until 2010.
It won the Sony Radio Academy Award for digital station of the year in 2007.It won the Sony Radio Academy Award for digital station of the year in 2007.
QSoft's operating profit doubled to £753,987 in 2011, the most recent year for which accounts are available, from £368,182 in 2010, but its losses on ordinary activities before taxation soared to more than £2m because of a one-off write-off in investment and loans of nearly £3m.
The longstanding debt of £2,953,452 related to another company controlled by Badenhorst, restaurants and clubs business Bar Profile Limited.
Pre-tax losses of £2,195,581 in 2011 were up on losses of £38,563 in 2010.
The company said in its latest results that 2011 had been a "very challenging year". Turnover of £6,705,730 was marginally down on its 2010 revenues of £6,893,307.
QSoft employed an average of 46 people in 2011 but it is believed that Gaydar Radio employed fewer than 10 full-time staff, with redundancies at both the station and the dating site over the last 18 months.
Badenhorst, QSoft's sole director and shareholder, was paid royalties of £532,920 in 2011, down from £571,370 the previous year.
Gaydio is a not-for-profit FM radio station aimed at lesbian, gay, bisexual and transgender people. It began as a part-time service in 2006, going full-time as the UK's first FM gay radio station four years later.Gaydio is a not-for-profit FM radio station aimed at lesbian, gay, bisexual and transgender people. It began as a part-time service in 2006, going full-time as the UK's first FM gay radio station four years later.
Badenhorst and Frisch moved to London from South Africa in 1997 to set up the IT firm QSoft. Having previously specialised in revenue management systems for airlines, they set up the Gaydar dating site after a Dutch friend asked them to help him find a boyfriend.Badenhorst and Frisch moved to London from South Africa in 1997 to set up the IT firm QSoft. Having previously specialised in revenue management systems for airlines, they set up the Gaydar dating site after a Dutch friend asked them to help him find a boyfriend.
"Gaydar started as something we did on the side," said Badenhorst in an interview in 2009. "We didn't realise what we were creating.""Gaydar started as something we did on the side," said Badenhorst in an interview in 2009. "We didn't realise what we were creating."
Frisch died in 2007 aged 38 after falling from a balcony. He left Badenhorst an estate worth more than £6.5m.Frisch died in 2007 aged 38 after falling from a balcony. He left Badenhorst an estate worth more than £6.5m.
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