Back to the wonderful world of radio, and an equity group led by Lord Alli has made a bid for Virgin Radio - but current owners, Scottish Media Group, have said they don't want to sell it. This is the second time SMG have turned down an offer to buy the national radio station by 3i and insiders reckon the equity group will now approach SMG's shareholders directly and try to force some kind of takeover on them.
This will pose an interesting dilemma for ITV boss Charles Allen
- ITV is the biggest shareholder in SMG and will surely be high up on 3i's list of targets. There has been some talk that ITV would themselves try to buy SMG's broadcasting assets. That deal would be primarily about bringing the Scottish
ITV franchises into the now unified ITV company, but some have suggested ITV could benefit from owning a national radio station too - ie Virgin Radio.
If
3i is successful it will be interesting to see what plans Alli would have for the national rock station. He is, of course, a former business partner of Virgin Radio's old friend
Chris Evans who, despite saying he has no interest in returning to radio, might not be able to resist the temptation of having the last laugh over his former Virgin Radio bosses if offered a new show on the station.