Emap Bidding Reaches Second Round
October 12, 2007 at 5:41 AM (PT)
The bidding for U.K. media giant EMAP moves forward with at least five bidders for each segment of the company told that they have made it to the second round of bidding. The TIMES OF LONDON reports that GCAP MEDIA, GLOBAL RADIO, UTV, and private equity firms VERONIS SUHLER STEVENSON and VITRUVIAN PARTNERS are among the bidders to survive the first round for EMAP's radio division.
The TIMES adds that the radio division may be broken up due to concerns that none of the bidders can get adeqauate backing to buy the whole thing.