Indian Media Group Tunes into Virgin Radio

03 June 2008

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.

Data sourced from Financial Times Online; additional content by WARC staff