mark occomore
Joined: 07 Dec 2006
Posts: 9955
Location: UK
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 Posted: Sun Jul 10, 2011 5:42 pm Post subject: Ross Eyes Radio Return |
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| Quote: | It is that Jonathan Ross, the comedian and broadcaster who quit the BBC in disgrace last year, is plotting a radio comeback as part of a consortium bidding to buy Absolute Radio.
I understand that Ross has been in talks with Sir Richard Branson, the tycoon who wants to revive the Virgin Radio name 14 years after he sold the business, about taking part in a joint bid.
Ross is among a number of high-profile broadcasters in discussions about the bid, which is being led by John Pearson, the former Virgin Radio boss and which would restore its status as a national brand.
Ross, who has already secured a television comeback with a new ITV chat-show scheduled to launch this autumn, has not yet formally agreed to take part in the Absolute bid. I’m told, though, that he met with Branson this week to discuss the potential bid.
Completing a deal would mark a rapid radio comeback for Ross, who left the BBC after a row over his £6m pay deal and abusive messages left by him and Russell Brand on the telephone of Andrew Sachs, the former actor.
My understanding is that if Branson and Ross are successful, Ross would present a breakfast show each morning on the rebranded Virgin Radio station, according to people close to the bid.
Under the plans, Ross would be likely to become a minority shareholder in a new Virgin Radio, alongside Branson’s Virgin Group, which would also hold a small stake.
The balance of the shares would be held by a financial backer, I’m told. Private equity firms including Kelso Place Asset Management have held talks about funding a bid, which could cost in the region of £20m, although I’m told that there is as yet no decision about the identity of a financial backer.
The Virgin-branded consortium is understood to have been competing with UTV, the Belfast-based group, for control of Absolute. The station is owned by TIML Radio, a subsidiary of the Indian media company Bennett Coleman, which paid £53m for it in 2008.
Virgin Group, Pearson and a spokesman for Ross all declined to comment. |
http://blogs.news.sky.com/kleinman/Post:8c6b8b93-7939-4bc5-8501-62f716c14389 |
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