Top Story

e4m_logo.png

Home >> Media - Radio >> Article

BCCL acquires Virgin Radio for Rs 448 crore

02-June-2008
Font Size   16
Share
BCCL acquires Virgin Radio for Rs 448 crore

Bennett Coleman and Company Ltd (BCCL) has acquired Virgin Radio Holdings from UK-based SMG Plc for a consideration of $106 million (Rs 448 crore). The deal is expected to be completed by June 2008.

BCCL officials have been quoted on saying that this was a good time to enter the UK and that the radio sector was a strong area to make a foray in.

Virgin Radio, a music station which operates under an FM licence in London and an AM licence in the rest of the UK, was acquired by TIML Golden Square Ltd, a wholly-owned subsidiary of BCCL. TIML, which will manage the station along with Irish company Absolute Radio, will invest £15 million in developing and re-launching the brand over the next few months. After a period of transition, the venture would not retail the Virgin brand name. Virgin Enterprises will retain the brand for its own global radio strategy.

Earlier in the year, SMG had reportedly put Virgin Radio up for sale as part of its plan to sell off non-core assets. Malaysian pay TV operator Astro All Asia Networks, Global Radio, Absolute Radio and UTV Media had been reported to be bidding for Virgin Radio.

Tags

Karthik Raman, Chief Marketing Officer, IDBI Federal Life Insurance, on the brand’s unconventional approach to marketing and priorities for the next year

Vinik Karnik, Business Head - ESP Properties, talked about what went into conceptualising the first edition of the entertainment marketing report, Showbiz

Rahul Jhamb, Brand Head, Forever 21, on how the fast fashion brand always stays on the pulse of latest marketing trends

Heavy spends on OOH and print sum up this year’s ad spends of YLG Salon

Conceptualised and executed by WATConsult, the campaign focuses on how Lotus Make-up is an enabler for women from various walks of life

iProspect released the third annual 2018 Future Focus Whitepaper geared to examine how machines and technology will impact marketing and advertising in the year ahead

Mavcomm Consulting one of India’s leading Public Relations, Reputation Management& Brand Communications company today announced elevation of Pranjal Dutta to the role of CEO