SMG is to stop the sale of Virgin Radio after bids failed to match the £80 million asking price, allowing it to focus on floating Virgin on the stock market next spring.
A report in the
Sunday Telegraph said that offers for Virgin were received from Global Radio and Vitruvian Partners, a private equity firm.
SMG recently sold its outdoor advertising business Primesight for up to £62 million, having previously delayed the sale (see SMG Confirms Primesight Sale).
Emap is currently selling its radio division , including Magic and Kiss, with reports claiming that it could offer loans to potential bidders for its three divisions (see Emap Could Offer Loans To Bidders).
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