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Media
Absolute Radio off the market
By CMU Editorial | Published on Tuesday 27 September 2011
If you were looking forward to the prospect of Absolute Radio, expensively rebranded from Virgin Radio in 2008, being bought back by Branson and expensively rebranded as Virgin Radio again, bad news. The music station is no longer for sale.
Absolute’s current owner, India-based TIML Radio, indicated it was considering selling the UK-wide radio station earlier this year, and both former owners the Virgin Group and rival UTV, which operates national talk station TalkSport, were rumoured to be interested. Though it’s thought neither were willing to pay the £20 million TIML Radio wanted for the national AM licence, London FM licence and various digital and online spin-offs.
According to The Guardian, TIML says it has now completed a review of its business and decided not to sell Absolute, which, it said, would now enjoy “long-term backing and confidence as it continues its ambitious digital growth plans”.
