BCCL betting high on the UK radio sweepstakes. Will the buy-out payoff?
Losing my Virginity, the autobiography of the most flamboyant
business tycoon, Richard Branson created waves across the globe. But now he’s trying to regain his virginity (ahem! We mean the Virgin Radio brand in UK). The buyout of Virgin Radio by Indian media powerhouse Bennett, Coleman & Co. Ltd. (BCCL) has taken the Indian media by storm. However, Branson’s intervention to keep BCCL away from using the Virgin brand may be a damp squid for BCCL’s overseas plans. Will Branson’s bravado prove fatal for BCCL? Or is it just a hiccup that will soon pass by?
BCCL’s invasion into UK’s radio space with this recent buyout of Virgin Radio for a whopping $106 million [from Scottish Media Group (SMG)], has stirred the hornet’s nest in the media space. Branson has tied up with HT Media in India for a radio channel Fever104, which is a competitor of BCCL’s radio station, Radio Mirchi, in the country. This has put the boisterous Branson into a catch-22 situation, as it will associate the Virgin Radio brand with two arch rivals in India. So in true Branson-style, he has worked out a full-proof solution (if we may say) and has influenced SMG to sell only the company and not the ‘Virgin’ brand to BCCL. As a bonus, this has also given fruit to Branson’s long coveted plan to buy back Virgin Radio (UK). He now plans to again start a new radio company in UK under the Virgin Radio brand. “We’ll now go on to grow the Virgin Radio brand over the airwaves and on the Internet… not only in the UK where we are considering options to re-launch Virgin Radio on FM, but across the globe in the near future,” says Branson.
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2008
Losing my Virginity, the autobiography of the most flamboyant
business tycoon, Richard Branson created waves across the globe. But now he’s trying to regain his virginity (ahem! We mean the Virgin Radio brand in UK). The buyout of Virgin Radio by Indian media powerhouse Bennett, Coleman & Co. Ltd. (BCCL) has taken the Indian media by storm. However, Branson’s intervention to keep BCCL away from using the Virgin brand may be a damp squid for BCCL’s overseas plans. Will Branson’s bravado prove fatal for BCCL? Or is it just a hiccup that will soon pass by?BCCL’s invasion into UK’s radio space with this recent buyout of Virgin Radio for a whopping $106 million [from Scottish Media Group (SMG)], has stirred the hornet’s nest in the media space. Branson has tied up with HT Media in India for a radio channel Fever104, which is a competitor of BCCL’s radio station, Radio Mirchi, in the country. This has put the boisterous Branson into a catch-22 situation, as it will associate the Virgin Radio brand with two arch rivals in India. So in true Branson-style, he has worked out a full-proof solution (if we may say) and has influenced SMG to sell only the company and not the ‘Virgin’ brand to BCCL. As a bonus, this has also given fruit to Branson’s long coveted plan to buy back Virgin Radio (UK). He now plans to again start a new radio company in UK under the Virgin Radio brand. “We’ll now go on to grow the Virgin Radio brand over the airwaves and on the Internet… not only in the UK where we are considering options to re-launch Virgin Radio on FM, but across the globe in the near future,” says Branson.
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2008
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