Four groups were expected to submit first round bids for Virgin Radio by today’s deadline.
Bidders for the SMG owned station are understood to include Charles Allen’s Global Radio, UTV (see
UTV Could Bid For Virgin Radio) and private equity firm Vitruvian Partners.
Global Radio bought Chrysalis’ radio division, including the Heart and Galaxy brands, last year (see Charles Allen Heads Chrysalis Radio Buyout), and made a failed £313 million bid for GCap Media in December (see Global Radio Could Return With GCap Bid).
It is expected that a fourth bid will come from Absolute Radio, an investment and consulting business headed by former Capital Radio executives Donnach O’Driscoll and Clive Dickens.
Virgin Radio was put up for sale by SMG as part of a plan to sell off non-core assets, having previously postponed plans to float the station (see SMG Postpones Virgin Radio Floatation).
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