23/06/2008

As reported widely over the weekend, shareholders in stv owners, SMG, have voted in favour of selling the company’s radio division, Virgin Radio: for £53.2 million, to a consortium headed by the owners of the Times of India newspaper.

It follows an announcement at the start of the month that a sale of Virgin had been agreed, pending approval from the shareholders.

That took place on Friday. The sale is due to be completed at the end of the month.

SMG bought Virgin - plus a TV production company - for £225 million eight years ago, from broadcaster, Chris Evans.

* Send your Scottish media news and gossip, in the strictest confidence, to  info@allmediascotland.com