Absolute Radio here to stay

Absolute Radio has been officially taken off the market by owner Bennett, Coleman & Co, which announced it had completed its review of the asset and confirmed its long-term backing of the business.

It emerged in April that Bennett, Coleman & Co, owner of the Times of India newspaper, had appointed investment bank Jefferies to conduct a review of Absolute Radio and a number of radio groups had been in talks to buy the station.

But, following reported valuations of the company at less than half what was originally paid by Bennett, Coleman & Co, the company ended the review and in a statement Ravi Dhariwal, chairman of Absolute Radio and chief executive of Bennett, Coleman & Co, restated its commitment to Absolute.

Read more here.

27.09.2011 | Stations

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