Ginger drops digital radio
Friday 19 June 1998
Ginger Media Group, which bought Virgin Radio last year, pulled out after clashing with other investors over the structure of the consortium, called Digital One, at a meeting on Wednesday night.
Apax, the venture capital group which supported Ginger, is also believed to have refused to commit itself to the investment. "Ginger basically hasn't got any money," one source said last night.
At the same time, cable and transmissions group NTL said it was joining the consortium.
GWR, which owns Classic FM, will lead the bid with a 51 per cent shareholding. Talk Radio will also be taking part.
National digital radio is due to be launched next year. It will carry the three national commercial radio stations - Classic, Virgin and Talk - but will be able to broadcast a host of other channels. It will also support high-speed data transmission.
David Campbell, Ginger's chief executive, said Virgin would still broadcast on the digital multiplex. "We remain supportive of the digital radio consortium and wish Digital One every success," he said.
Meanwhile, London News Radio and a management buyout team are today expected to submit a bid for Talk Radio. Kelvin MacKenzie, the former Sun editor, is also attempting to buy the station.
- 1 Keira Knightley topless: Conservative actress does own take on #Freethenipple campaign for Interview Magazine
- 2 Argentina may change its capital city from Buenos Aires, says president
- 3 Joan Rivers: 'Palestinians deserve to be dead'
- 4 The 3D-printed key that can unlock anything
- 5 Lady al-Qa’ida: On the trail of Dr Aafia Siddiqui, the world’s most wanted prisoner
Keira Knightley topless: Conservative actress does own take on #Freethenipple campaign for Interview Magazine
YouTube video posted by Isis militants shows 'execution of 250 Syrian soldiers'
Oil tanker with $100 million cargo goes missing off Texas coast
Joan Rivers: 'Palestinians deserve to be dead'
Sir Paul McCartney makes his stance on Scottish independence known
Robin Williams Emmys tribute led by Billy Crystal criticised for including 'racist' joke about Muslim woman
The Rotherham child abuse scandal is a tale of apologists, misogyny and double standards
What do immigrants really think of Britain? Polish immigrant's Reddit post goes viral
Scottish independence TV debate: Pumped-up Alex Salmond bounces back in bruising second round against Alistair Darling
Do you realise just how foolish the UK looks?
With Douglas Carswell joining Ukip, my party has taken another giant step forward
- < Previous
- Next >
iJobs Money & Business
Highly Attractive Salary: Austen Lloyd: BRISTOL - This is a very unusual law c...
£35000 per annum: Harrington Starr: Network Engineer (CCNP, CCNA, Linux, OSPF,...
£50000 per annum: Harrington Starr: DevOps Engineer (Systems Administration, L...
£60000 - £70000 per annum: Harrington Starr: A prestigious leading professiona...