Listeners switch off Capital

SHARES in Capital Radio crashed

The collapse follows turbulence at 95.8 FM with the departure of Chris Tarrant from the breakfast show, the reported £6m three-year package for Johnny Vaughan to replace him and strong criticism of management by disc jockey Neil Fox.

The station's share of the commercial radio market slumped from 15.9% in the second quarter of 2003 to 12.8% in the third.

Capital's loss was mainly Heart's gain as the Chrysalis-owned station took the lead among the London audience.

Its share of total radio audience rose from 6.7% to 7.2% in the past three months while Capital's fell to 7%. In terms of actual listeners, Capital stayed ahead with 2.27m against Heart's 1.95m.

Capital chief executive David Mansfield said: ?This is not disastrous but it's not the best position to be in and I'd rather not be beaten by Heart. But we've put everything in place and got the best possible successor to Chris Tarrant starting in the New Year.'