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The Week: SMG sells Virgin Radio to TIML Golden Square for pounds 53m.(Brief article)
SMG has sold Virgin Radio to TIML Golden Square, one of India's largest media groups and the owner of Absolute Radio, for pounds 53.2 million.
TIML Golden Square is planning to invest more than pounds 15 million on rebranding the station after the Virgin name is dropped in the autumn, and has hired Albion to create advertising to support the changes.
The company is aiming to return the station to its glory days of 2000 by creating a new entertainment brand, building on its existing DJs, including Christian O'Connell and the new weekend lunchtime team JK and Joel.
Clive Dickens, Absolute ...
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