ToI acquires Virgin Radio for $105 mn
Bennett Coleman & Co Ltd, the country’s largest media group and the holding company of the Times of India group, on Saturday bought Virgin Radio in the UK in a £53.2 million (Rs 445cr approx) deal with SMG Plc [source]
Virgin Radio is one of UK’s biggest broadcasters with an estimated 2.7m regular listeners, has an FM licence for London as well as a national AM licence.
This is the largest media acquisition deal from India and the deal will give BCCL’s wholly owned subsidiary, TIML Golden Square Ltd, control over Virgin Radio’s assets in the UK.
Reliance launches coin box PCO
Reliance Communications announced has launched coin box PCO that allows will be distributed to every nook and corner of the country. These coin box phones also come with a host of features like Rs 5 coin slot along with regular Re 1 slot to enable longer calls and facilitates STD/ISD calls [source]
Airtel earlier launched it’s own coin box initiative, iBox.