Times of India group acquires Virgin Radio Holdings

Times of India group acquires Virgin Radio Holdings

The Times of India group has announced their first international acquisition.

The Indian media company has acquired the Virgin Radio Holdings along with its subsidiaries in the UK market.

The deal is worth around GBP 53.2 million.

Virgin Radio has been acquired by TIML Golden Square which is a subsidiary of the Times group.

Richard Branson of Virgin Group spoke about this deal: “This decision was arrived at collectively only after we had all carefully considered the various options. I wish TIML all the best of luck with their new radio brand.”

A P Parigi, Chief Executive of TIML had this to say: “Now is a great period to be entering the UK market. We are pleased to be working with a great team of UK-based radio experts, Absolute Radio.”