Owner Takes U.K.'s Absolute Radio Off The Market
September 27, 2011 at 4:49 AM (PT)
TIMES OF INDIA GROUP has announced that it has pulled U.K. national Rock station ABSOLUTE RADIO off the market after shopping the station this SUMMER.
THE GUARDIAN reports that the station was being offered for about 20 million pounds, but bidders, including UTV and VIRGIN, did not meet the desired price. The owner said TUESDAY that it is pledging its "long-term backing" for the station and that revenues will show a year-to-year increase of 32% for third quarter, with breakeven forecast for 2012.