We’ve just held an EGM with our shareholders who have approved the disposal of Virgin Radio. We will be sorry to see Virgin Radio leave the SMG family but I do believe that you will have a great future with TIML.

The new owners TIML have told me many times that one of the key reasons for buying the business has been the quality of staff, the fantastic culture and the many opportunities they see to grow the business in the future. This is TIML’s first investment outside India and they see this as a flagship opportunity for them to establish themselves in the UK.

As you know, they will be investing heavily in the station to a tune of around £15million in the coming months to re-brand and re-launch the station which will be an exciting time for everyone at the station as well as listeners and advertisers.

I wish you all every success for the future and thank you for your tremendous support and efforts as we’ve worked through a long and protracted sale process!  If you have any questions please do get in touch.

Yours,
Rob

Rob Wooward
CEO – SMG plc