Talks recommence to sell Absolute Radio?

The owner of Absolute Radio, Bennett, Coleman & Co, is reported to be back in discussion with potential buyers, after initial talks last year.

MediaWeek says that the company has now accepted the loss-making business is not worth what it had hoped, and Absolute Radio could be sold for around £10m to £15m.

Bennett, Coleman & Co, parent company of TIML, spent over £50m on the station in 2008 and had a review of the company last year. It is thought potential buyers include Global Radio and UTV Media but offers were under the £20m mark.

John Pearson, the former chief executive of the business when it was known as Virgin Radio is thought to have been favourite.

Posted on Tuesday, December 18th, 2012 at 9:46 am by RadioToday

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