Virgin buys Absolute Radio?
Follow @mediaukdiscussSky News are apparently reporting that Virgin have done a deal to buy Absolute Radio for £20m, working with Jonathan Ross (who gets the breakfast show, apparently).
Presumably, it’s a rebrand back to Virgin Radio.
Is this the best thing for the Golden Square station? Or would they be better served by being purchased by UTV?
I think Absolute have managed to do a good job to grow and develop a brand.. How would that be effected by another name and management change?
I miss Virgin Radio. As does my father who switched from Absolute to Nation Radio after listening to the station since it launched in the 90s. I just find Absolute to be far too pretentious, blokey and tries far too hard to be ‘random’ and ‘quirky’ all the time – it’s the radio equivalent of spending all day with an International Politics student.
oh god i prefer absolute radio the way it i
Branson has form here – he sold Virgin Megastores to Smiths, then bought it back, then sold it again when he could see that music retail in the high street was dead on its arse. So evidently he thinks there’s money to be made in radio. I suppose somebody has to.
I try to be an exception from the typical interpol student! Lol
But surely u don’t want to put Ross in for the breakfast show?!! Ugh. I do like absolute but miss virgin, agreed :)
I wonder what Virgin plan to do with the DAB stations? Bring back the Virgin Radio Groove!
Perhaps they have done those things, but in terms of market share and therefore revenue it’s been something of a disappointment to the current owners and making money out of it is the only benchmark of a job well done. I think they are doing the right thing in getting out now, before the losses become too great. Smart move by the Times of India.
oh i agree.. to be honest unless your business (eg radio) is making money whats the point.. you had to hope that they where close though lol
My fear is a Virgin rebrand will be more of the same bland AOR fare we’ve come be used to over the years. Absolute promised so much and gave us Virgin with a new name with less listeners.
As a business, I’d rather see UTV acquire the station as the cross promotional possibilities with talkSPORT may make both licences a bit more valuable.
Worthwhile mentioning that Virgin Radio in Thailand and Toronto are much more CHR in format. The 1215 franchise (including national DAB) has no specific promise of performance: so if they wanted to make that a dance format station they could. The only one that does have a specific promise of performance is 105.8: there’s no specific reason why they need make that mirror the national service, and plenty of reasons why not.
Branson has little, if anything, to do with this purchase. “Virgin Radio International” is run (in Europe) by John Pearson, the former CEO of Virgin Radio UK.
Funny that you liked a station that was about 250 songs, played almost at random. I believe you can get that right now: it’s called “Spotify on Shuffle”. I, however, prefer radio stations with relevance and content… (wink)
Is part of the problem the 105.8 licence? It has been said that the London FM licence has propped up the Virgin AM business in the past. Since the TIML takeover, London hasn’t exactly been performing as well.
The part that worries me is the change of breakfast show host if this is true. You buy a station to build up audience and make money form advertising etc…but I can see a large chick of the listeners moving with the OC if he is replaced by Ross.
If they stop the simulcasting of the COC breakfast show on the 80s and 90s station I am sure they’ll at least gain some extra listeners…
The question is whether there’d be significantly more listeners if Ross arrived. Remember: he broadcast on Virgin Radio, and had a tremendously successful weekend morning show there, before his Radio 2 show. He’s a known brand, and could – like Evans before him – attract significant listeners to the station.
James, I agree with Ross on the weekend show, but I think five days of breakfast with him would be an issue, I would personallyhave him on Saturdays after Frank Skinner as he was on Radio 2
I agree, Absolute is too quirky in nature. Really, it’s here ARI should have put the Jack FM concept. Although I’m not convinced the format is right for local markets, I think it would have potential nationwide.
As long as they don’t mess around with the presenting team too much, or at least keep the excellent Geoff Lloyd, Ian Lee, Dave Gorman and Frank Skinner, Ross would be a welcome addition – it gets a bit random at times, but I like the quirky nature, it’s at least a station full of personality!
p.s I hope they keep the decades stations too, it’s great to delve into them now and again
Is this just the London station or the entire group?
Clive and his team has done a great job on both IMHO. The London station does need a refresh (and a massive clear-out of that stale playlist).
Absolute Radio is for sale (i.e. the national station and its DAB offshoots).
Absolute Radio International is not for sale (i.e. Jack FM Oxford and Glide).
Of note: after over two years of not listening to very much music radio, I tuned into Absolute Radio last week for breakfast and recognised every single song; I’d certainly agree that the playlist might be worthwhile rethinking.
I should say: “Absolute Radio is apparently for sale”, since it’s never actually been said it is. I would see two possible outcomes; Virgin buy it, or TIML keep hold of it for a while. I’m hearing that UTV is less interested.
I’ve heard on the grapevine though they might be interesting in selling the Oxford stations? They’ve tried a few things with 107.9 particularly, none of which seem to have worked.
Yeah, 107.9 is a millstone around the neck of anyone that’s ever operated it. Nobody seems to be interested in listening and the coverage is pretty minimal. They tried students, Glee, adult contemporary, Muppets and even pop. I suggested a CBSFM-type oldies station without the awful cheese, looks like anything could be worth a try. It can’t be productive to keep the needles wagging on that frequency.
This would be quite an interesting new topic. (Probably not too relevant here though!)
107.9 was beginning to show promise under Andy Green, but I think ARI tried to throw the baby out with the bathwater too soon. I think if they’d held their nerve another 18 months it would have turned a corner as Passion.
If Jonathan Woss is on, I’ll give it a miss.
Tastes a funny old thing.
Personally I avoid 105.8 because of OC, but might give it another whirl if wossy woz on. Whatever happens though, their best asset imho Geoff lloyd must have a place in the schedule.
Well, this thread seems to have gone rather quiet – we’re now at the end of the month, and there seem to be no new developments. James, is there any chance you might have an update?
I’ve no update. Rumour is that the Virgin deal appears in the press whenever they need to drum up some more money; that UTV is seemingly less interested; and that an increasing possibility is that the Indians might hold on to it for a while longer. (Just like SMG’s on-off love affair with the station).
According to Radio Today – http://radiotoday.co.uk/2011/09/absolute-sale-on-hold-after-price-row/ –
“It’s reported the potential sale of Absolute Radio has hit a stumbling block over the price interested bidders are willing to pay.
Brand Republic claim the remaining potential buyers – Virgin Radio International and UTV Media – have pulled out of talks.
Absolute was bought by TIML for £53.2m in June 2008, but Brand Republic reports offers are thought to have come in under £20m for the firm which recorded pre-tax losses of £4.3m in 2009.
It’s claimed Virgin were close to a deal in July but talks broke down over the value of the business.”
http://www.guardian.co.uk/media/2011/sep/27/absolute-radio-no-longer-for-sale
Absolute is staying with TIML.
(Although I speak as one who took much of the talk about Virgin etc. as being little more than PR puffery from Branson – and Jonathan Ross’s agent).
As I understand it, it was much more serious than that…
I’m aware there were actually talks but the Ross stuff was mainly done by his agent to maintain profile.
As Clive Dickens has just tweeted: “at last no more silly distractions & ridiculous speculation to contend with…..”
Darn. Just when I started calling it Absolute Radio in my head, instead of Virg… no, Absolute Radio.