David Mansfield Exits GCap Media

Michael Hedges September 20, 2005

Thus ends the short, five-month run of UK radio broadcastings dynamic duo: David Mansfield and Ralph Bernard. The announcement was made Monday (September 19) by Sir Ralph. David remains a company director until January but, yes, he’s a goner.

According to most sources, there was no Gary Cooper “this town isn’t big enough for the both of us” showdown. Three weeks ago Mansfield and Bernard asked the GCap board to choose. Last Thursday, they did.

UK broadcast industry wags largely ended their musings about the Capital / GWR “corporate culture” clash about the time the GCap merger became official. Bernard – the master strategist – and Mansfield – the master salesman – seemed to have, at least among themselves, worked out a plan. Then ad spending went into free-fall and GCaps market capitalization lost just a shade more than a third.

The merger forming GCap was jigged together, among other reasons, to prevent the evil Clear Channel or the frightening Mel Karmizan from robbing the Queen’s Subjects. Mission Accomplished: to quote the press agent for another failed CEO.

But the investor set, or at least investor set wags, were never convinced the numbers would work. GCap’s two largest investors, Fidelity and the Daily Mail Trust, deny influencing GCaps’ board to eliminate one of two top positions. It was Fidelity, though, that forced out Carlton’s Michael Green from the Carlton/Granada merged ITV. And the Daily Mail Trust accountants are notorious. ITV was supposed to “take on” the BBC. Earlier this year GCap announced the same plan.

Dumping Mansfield may serve as another signal, if it’s really necessary, that the ad model – the salesman’s domain – is under scrutiny. Two years ago Viacom’s Sumner Redstone dumped Mel Karmizan – another super-salesman – and passed the hat to two strategists, Tom Freston and Les Moonves, each today running separate companies. Mel is now in outer-space with the satellites.

Kelvin MacKenzie - yet another super-salesman - was not invited to stay on with The Wireless Group after its purchase by Ulster TV.

David Mansfield is scheduled to speak to the NAB/European Radio conference in October. If he stays on the agenda, the speech will be well worth the price of admission.

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