SMG To Spin Off Virgin Radio
April 12, 2007 at 5:45 AM (PT)
SMG will spin off UK radio network and station VIRGIN RADIO as an independent business on the stock exchange. The move is intended to allow SMG to focus on its core television operations.
SMG President RICHARD FINDLAY said, "This is the right strategic decision for SMG, increasing our focus on TV whilst reducing debt. VIRGIN RADIO is one of the great brand names in media with an attractive national audience, strong relationships with advertisers and a clear growth strategy."