TIML to sell Absolute Radio?
Absolute Radio's owner, The Times of India Group, is looking for a buyer for its UK radio operations, according to a report.
TIML Radio Ltd owns and operates the 2nd national radio licence, along with a London-wide FM service, and is considering a sale or public review, sources say.
The station changed hands in 2008 for £53.2 million and has been re-branded from Virgin Radio by Absolute Radio International Consultancy who are contracted to run the station from Times Infotainment Media Ltd.
Audience has dropped in reach since the name change, and a number of spin-off brands such as Absolute Radio 90s and Absolute Radio Extra have launched.
A spokesperson for Absolute Radio has told RadioToday.co.uk they have nothing further to add to the [link=http://www.livemint.com/2011/04/04215442/Times-Group-looking-to-sell-UK.html?atype=tp]report[/link].