This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/7593197.stm
The article has changed 4 times. There is an RSS feed of changes available.
| Version 1 | Version 2 |
|---|---|
| Virgin Radio to become Absolute | Virgin Radio to become Absolute |
| (about 6 hours later) | |
| Virgin Radio is to be rebranded as Absolute Radio as its Indian owner aims to turn it into a global business. | Virgin Radio is to be rebranded as Absolute Radio as its Indian owner aims to turn it into a global business. |
| The name change will be completed by 1 October, and comes after TIML, part of the Times of India media group, bought the radio station for £53.2m in May. | The name change will be completed by 1 October, and comes after TIML, part of the Times of India media group, bought the radio station for £53.2m in May. |
| The change in name was also needed for legal reasons, as Times of India chose not to purchase the Virgin Radio brand. | The change in name was also needed for legal reasons, as Times of India chose not to purchase the Virgin Radio brand. |
| An Absolute spokesman said the radio station wanted to target US listeners and those in mainland Europe. | An Absolute spokesman said the radio station wanted to target US listeners and those in mainland Europe. |
| Diversification plans | Diversification plans |
| The spokesman explained that "when TIML bought the radio station a decision was taken not to buy the brand licence". | The spokesman explained that "when TIML bought the radio station a decision was taken not to buy the brand licence". |
| "The Virgin Radio brand licence came with the restriction that the radio station had to remain a UK radio business," he continued. | "The Virgin Radio brand licence came with the restriction that the radio station had to remain a UK radio business," he continued. |
| Absolute is a brand that is unapologetic, cheeky and infectious Absolute chief executive Donnach O'Driscoll | Absolute is a brand that is unapologetic, cheeky and infectious Absolute chief executive Donnach O'Driscoll |
| "In the changing digital media landscape that was not a viable business option for us." | "In the changing digital media landscape that was not a viable business option for us." |
| The spokesman said that in addition to its global plans, the company intended to diversify the Absolute Radio brand into live music, ticketing, TV, mobile phones and gaming. | The spokesman said that in addition to its global plans, the company intended to diversify the Absolute Radio brand into live music, ticketing, TV, mobile phones and gaming. |
| The Times of India Group already owns 30 Indian radio stations. | The Times of India Group already owns 30 Indian radio stations. |
| 'International ambition' | |
| "Absolute is a brand that is unapologetic, cheeky and infectious with a long-term brand building and investment strategy behind it," said Absolute chief executive Donnach O'Driscoll. | "Absolute is a brand that is unapologetic, cheeky and infectious with a long-term brand building and investment strategy behind it," said Absolute chief executive Donnach O'Driscoll. |
| "Our ambition is international - this is just the start." | |
| Virgin Radio has an audience of 5 million listeners. | |
| TIML bought Virgin Radio from Scottish media group SMG. | TIML bought Virgin Radio from Scottish media group SMG. |