MUMBAI: Indian media conglomerate Bennett Coleman, owner of the Times of India newspaper, has made its biggest international acquisition with a £53.2 million ($104m; €67m) bid for the UK's Virgin Radio licences.
Owner Scottish Media Group has sold the business minus the ubiquitous and lucrative brand name, reflected in the lower-than-expected price.
The station will be rebranded by Bennett Coleman unit TIML Golden Square and will be used as the platform for a multimedia expansion which could include an online music subscription service, online video and mobile applications.
Owner Scottish Media Group has sold the business minus the ubiquitous and lucrative brand name, reflected in the lower-than-expected price.
The station will be rebranded by Bennett Coleman unit TIML Golden Square and will be used as the platform for a multimedia expansion which could include an online music subscription service, online video and mobile applications.
Data sourced from Financial Times Online; additional content by WARC staff
