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.