Virgin Radio Secures New Loan
December 3, 2007 at 5:58 AM (PT)
VIRGIN RADIO SMG has secured a new five-year, £90m loan facility, reports THE LIVERPOOL DAILY POST. The firm is also in the process of completing a £95.1m fundraising rights issue, and once that is complete it said the loan agreed with HBOS will represent the entirety of its borrowings.
The group is looking to sell VIRGIN RADIO so it can concentrate on its television businesses, including STV in SCOTLAND and GINGER PRODUCTIONS.