UTV Radio and Sir Richard Branson’s Virgin Group are favourites to buy Absolute Radio, according to a report this morning.
The Telegraph says Global Radio and Orion Media Group have pulled out of the bidding process, in which current owner TIML is hoping to attract bids of more than £20m.
Industry sources cited potential synergies for some. UTV could combine Absolute with TalkSport, as they attract a similar male demographic, while Virgin Group could re-name the station ‘Virgin Radio’ and there would be synergies with its other international radio stations.
No radio group has made any official comment on the potential purchase of the station, which includes a number of spin-off stations such as Absolute 80s and Absolute Classic Rock. Absolute Radio broadcasts on FM in London and nationwide on AM.