Evans plans City float of media firm

DISC JOCKEY Chris Evans is expected to become more than pounds 80m richer as a result of plans to float his production company on the stock market.

Mr Evans owns 55 per cent of Ginger Media Group, a company formed out of Ginger Productions two years ago when he bought Richard Branson's Virgin Radio station. City analysts estimate the group to be worth pounds 150m. The Group has begun talks with City banks, understood to include Goldman Sachs and Deutsche Bank, about managing a floatation. A merchant bank is likely to be appointed soon to handle the sale. Mr Branson, still owns 20 per cent of the group.

The floatation would end rumours of a possible link between Mr Evans and Kelvin MacKenzie, the former editor of The Sun and owner of Talk Radio. Mr Evans' backer in his purchase of Virgin Radio was venture capital firm Apax Partners, which owns 20 per cent of Ginger. Apax also acted as an advisor to Mr MacKenzie in his purchase of Talk Radio and a link between the two has been rumoured in the radio industry.

However it is thought that the health of Ginger's financial performance has encouraged the company's management to go for Plc status rather than a trade sale of shares to Mr MacKenzie. Ginger is believed to have made an operating profit of pounds 15m in the 12 months to the end of July, up from pounds 10m last year. The company is reported to have a turnover of over pounds 50m and Apax Partners is understood to be keen to turn some of its share into cash.

While ratings for the radio station have slipped by half a million in recent months - after a previous wobble earlier in the year - the station's advertising sales team has successfully managed to persuade advertisers to pay a premium to be associated with the Chris Evans phenomenon.

The rest of Ginger Media makes radio and television programmes for a number of broadcasters, including Mr Evans' TFI Friday programme for Channel 4. Earlier in the year Ginger entered into talks with Express Newspapers about buying The Star.

A spokesman for Ginger Media declined to comment on the proposed floatation.

Suggested Topics
Start your day with The Independent, sign up for daily news emails
Have you tried new the Independent Digital Edition apps?
News
ebookA unique anthology of reporting and analysis of a crucial period of history
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs General

SThree: Trainee Recruitment Consultant

£20000 - £25000 per annum + uncapped commission, Benefits, OTE £100k: SThree: ...

Guru Careers: Dining Room Head Chef

£32K: Guru Careers: We are seeking a Dining Room Head Chef to work for one of ...

Guru Careers: Pastry Sous Chef / Experienced Pastry Chef

£27K: Guru Careers: We are seeking a Pastry Sous Chef / Experienced Pastry Che...

SThree: Trainee Recruitment Consultant

£20000 - £25000 per annum + competitive: SThree: Are you a recent graduate loo...

Day In a Page

Abuse - and the hell that came afterwards

Abuse - and the hell that follows

James Rhodes on the extraordinary legal battle to publish his memoir
Why we need a 'tranquility map' of England, according to campaigners

It's oh so quiet!

The case for a 'tranquility map' of England
'Timeless fashion': It may be a paradox, but the industry loves it

'Timeless fashion'

It may be a paradox, but the industry loves it
If the West needs a bridge to the 'moderates' inside Isis, maybe we could have done with Osama bin Laden staying alive after all

Could have done with Osama bin Laden staying alive?

Robert Fisk on the Fountainheads of World Evil in 2011 - and 2015
New exhibition celebrates the evolution of swimwear

Evolution of swimwear

From bathing dresses in the twenties to modern bikinis
Sun, sex and an anthropological study: One British academic's summer of hell in Magaluf

Sun, sex and an anthropological study

One academic’s summer of hell in Magaluf
From Shakespeare to Rising Damp... to Vicious

Frances de la Tour's 50-year triumph

'Rising Damp' brought De la Tour such recognition that she could be forgiven if she'd never been able to move on. But at 70, she continues to flourish - and to beguile
'That Whitsun, I was late getting away...'

Ian McMillan on the Whitsun Weddings

This weekend is Whitsun, and while the festival may no longer resonate, Larkin's best-loved poem, lives on - along with the train journey at the heart of it
Kathryn Williams explores the works and influences of Sylvia Plath in a new light

Songs from the bell jar

Kathryn Williams explores the works and influences of Sylvia Plath
How one man's day in high heels showed him that Cannes must change its 'no flats' policy

One man's day in high heels

...showed him that Cannes must change its 'flats' policy
Is a quiet crusade to reform executive pay bearing fruit?

Is a quiet crusade to reform executive pay bearing fruit?

Dominic Rossi of Fidelity says his pressure on business to control rewards is working. But why aren’t other fund managers helping?
The King David Hotel gives precious work to Palestinians - unless peace talks are on

King David Hotel: Palestinians not included

The King David is special to Jerusalem. Nick Kochan checked in and discovered it has some special arrangements, too
More people moving from Australia to New Zealand than in the other direction for first time in 24 years

End of the Aussie brain drain

More people moving from Australia to New Zealand than in the other direction for first time in 24 years
Meditation is touted as a cure for mental instability but can it actually be bad for you?

Can meditation be bad for you?

Researching a mass murder, Dr Miguel Farias discovered that, far from bringing inner peace, meditation can leave devotees in pieces
Eurovision 2015: Australians will be cheering on their first-ever entrant this Saturday

Australia's first-ever Eurovision entrant

Australia, a nation of kitsch-worshippers, has always loved the Eurovision Song Contest. Maggie Alderson says it'll fit in fine