SMG: Buyers Asking About Virgin Radio
June 27, 2007 at 5:44 AM (PT)
The UK's SCOTTISH MEDIA GROUP says it has been approached by several parties interested in buying its VIRGIN RADIO operations, which it plans to float in an IPO later this year while it concentrates on its TV operations, ITV affiliates SCOTTISH TELEVISION and GRAMPIAN.
SMG CEO ROB WOODWARD said WEDNESDAY. "We have had a number of approaches in parallel with the IPO process, which remains our main focus." He noted that this week's sale of CHRYSALIS' radio division to GLOBAL RADIO "is good news for us because it confirms that there is interest in pure play radio." WOODWARD would not disclose which parties have approached his company with interest in VIRGIN RADIO.