NEWS: Hunt for financial PR fuels rumours of Virgin flotation

Richard Branson’s Virgin Radio is searching the market for a financial PR agency as it gears up for a round of overseas acquisitions and a possible flotation.

Richard Branson’s Virgin Radio is searching the market for a financial

PR agency as it gears up for a round of overseas acquisitions and a

possible flotation.



The radio station, which was launched in 1993, and which has an audience

of four million, has long been rumoured to be interested in buying other

stations.



Will Whitehorn, corporate affairs director for the Virgin group

confirmed that five City PR firms had been approached but declined to

name them. He stressed that Virgin’s search was at an early stage. ‘We

have had meetings and the presentation of credentials,’ he said.



Whitehorn added that an appointment could be made as early as next month

but that the decision was largely dependent on whether or not Virgin

Radio would proceed with its acquisition strategy. He admitted that a

future flotation was also likely.



Speculation mounted earlier this year that Virgin Radio was planning a

float after it invited several stockbroking firms to pitch as brokers

for a possible share offering. Valuing the company at around pounds 70

million, a flotation would allow Virgin Radio to raise funds for

international expansion.



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