Scott Taunton, managing director of UTV in Britain, told Media Week that the company has not been selected as preferred bidder.
According to earlier reports, Absolute Radio, an investment and consultancy firm that owns Jack FM in Oxfordshire and founded by former Capital Radio executives, is set to be named by SMG as preferred bidder for the station. The £60m bid from Absolute Radio is believed to have been backed by Indian investors behind The Times in India.
Absolute Radio is believed to have made a cash offer just exceeding the £60m price tag originally attached to the station. It will now have talks with Virgin Enterprise to secure the Virgin branding for the radio station.
SMG’s preliminary results are to be announced tomorrow morning.
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