Branson And Allen Eyeing Virgin Radio?
July 2, 2007 at 5:35 AM (PT)
British entrepreneur RICHARD BRANSON and former ITV commercial televison chief CHARLES ALLEN could launch a takeover of SMG's VIRGIN RADIO, REUTERS said on SUNDAY without citing sources.
ALLEN refused to comment on the project, adding, "I am bound by confidentiality agreements."
BRANSON and ALLEN have held talks about a plan that would see VIRGIN RADIO owner the Scottish media group SMG PLC spin off the station into a new private company involving the two men and SMG becoming principle shareholders, the report said.
SMG said last week its planned flotation of VIRGIN RADIO was on track. A spokeswoman could not immediately be reached for comment.