Virgin Radio Profits Slashed Continued Poor Performance Deals Blow to Smg's Chances of Holding On to Station
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Summary
SMG's chances of holding on to Virgin Radio were dealt a body blow yesterday as the ailing subsidiary reported a sharp drop in operating profits in 2004.
The group has already rebuffed two pounds-100m takeover approaches for the Londonbased station from media mogul, Lord Waheed Alli, saying the bid "seriously undervalued" the station and its prospects.See the full content of this document
Extract
Virgin Radio Profits Slashed Continued Poor Performance Deals Blow to Smg's Chances of Holding On to Station
SMG, which is based in Glasgow and also owns Scottish and Grampian TV, bought Virgin Radio and Ginger Group, formed by the DJ Chris Evans, for pounds-225m in 1999. Since that time profits and audience ...
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