SMG set to sell Virgin radio

The final stage of a break up of SMG plc?

http://www.reuters.co.uk/newsPackageArticle.jhtml?type=businessNews&storyID=524311&section=finance

LONDON (Reuters) - Media firm SMG is in talks about a sale of its Virgin radio network, with EMAP one of the interested parties, The Observer reports, citing industry sources.

SMG, owner of most of Scotland's commercial TV network, has pinned a price tag of around 130 million pounds on Virgin radio, after having paid 225 million pounds for it three years ago, the newspaper said.

Media group EMAP is said to be interested in buying Virgin, the newspaper said.

Officials at SMG and EMAP were not immediately available for comment.

SMG reported a 25 percent fall in annual profit in March due to an advertising slump and the sale of its publishing business, but said bookings for the beginning of 2004 were encouraging.

It won't be the final stage in a breakup of SMg, it'll be the first stage

If Virgin Radio is up for grabs again, maybe the Ginger one could attempt to buy it again . . . !

Probably explains why so many presenters have been axed recently.

The first? Surely not. They've already sold off their newspaper division, their stake in Scottish Radio Holdings (to EMAP, as it happens), and their GMTV stake to ITV. Compared to a couple of years ago, there's hardly anything of SMG left these days.

Maybe there clearing the way for it to be more affordable for UTV to buy??????

Apparently SMG have huge debts, which is probably true, but I'm also guessing that they're clearing the way for ITV PLC to take more control, as they gave them their share of GMTV and they were more friendly over the use of the ITV name.

But SMG does still have other things than Scottish TV and Grampian TV. (i.e Radio stations, that aren't Virgin)

Having realised that they're never going to have their Glasgow-based media empire, SMG appear to be flogging off the family silver and making as much money as they can, sod the consequences.

It's a matter of time until the end of Scottish Media Group (who hilariously renamed themselves to downplay their Scottishness) are dead, a sad end for STV, who just outstretched themselves. Towards the end they've become an embarassment - Virgin Radio is a mess, Scottish and Grampian have no clear identity and are more dependent on the network than ever, they've had to sell off their papers because they were so badly run - it's all gone horribly wrong.

You never know with the finacial world as it is these days ITV may place a bid to buy the company, though Independant TeleVision Radio wouldn't really work, would it?

When the Pearl and Dean cinema bumpers were re-done this year (to have the 50 years of cinema advertising logo removed), the SMG logo was removed.

Possibly the next to go?

The other major SMG property is Primesight, an outdoor advertising firm. I've only seen a Primesight billboard in one location, but they do sell advertising in the Glasgow Subway. They at least appear to have been doing fairly well - there's an entire branded train again, one with branded doors, and some ads pasted to station walls, rather than being in frames.

How about the name ITAR (Independent Television And Radio)?????

Just a thought.

(I've actually nicked the word ITAR from the 1996 Doctor Who TV Movie starring Paul McGann - in which it was the Institute for Technological Advancement and Research )

It seems Virgin Radio is NOT for sale after all...

http://www.theherald.co.uk/business/17613.html

digiperson