SMG Shareholders Approve Virgin Radio Sale
June 20, 2008 at 5:35 AM (PT)
SMG shareholders have overwhelmingly approved the sale of U.K. national Rock station VIRGIN RADIO to BENNETT COLEMAN's TIML GOLDEN SQUARE LTD. for 53.2 million pounds.
The deal, which does not include a license for the VIRGIN RADIO name, was approved at a special shareholder meeting TODAY (6/20). The deal is expected to close by JUNE 30th, with TIML and partner ABSOLUTE RADIO operating the station and a new brand to be announced in the FALL.