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MUMBAI:
After acquiring Virgin Radio, Times of India Group's subsidiary
TIML Golden Square has decided to rebrand the UK-based radio
station to Absolute Radio on 28 September.
Pumping
in £15 million (Rs 1.19 billion), TIML Golden Square
will diversify into new areas like standalone branded properties,
event ownership, TV and customer transactions like music subscriptions,
downloads and ticketing.
The
website, www.virginradio.co.uk, will also rebrand as www.absoluteradio.co.uk.
TIML
is launching a multi-platform marketing campaign to promote
the brand. Using the campaign line “Discover Real Music”,
it will roll out two key initiatives – the open www.oneGoldenSquare.com
blog and a new approach to play list meetings with listeners
and the music industry.
 Says
Times of India Group MD Vineet Jain, “Rock music, Internet
and digital platforms cut across countries, cultures, and
all age groups, especially the youth. Our existing strong
rock music listener base through FM, AM, DAB in UK and through
the Internet from across the world, positions us uniquely
to develop a new-age, multi-platform Web 2.0 music and entertainment
brand.”
Adds
TIML India MD and CEO AP Parigi, “As a brand, it is being
developed to be unapologetic, cheeky and infectious, with
a long-term brand building and investment strategy behind
it. We are going to develop this brand, with radio at its
core, and diversify the business and revenue opportunities
into other related areas. Our ambition is international –
this is just the start.”
TIML
Golden Square had paid £53.2 million (Rs 4.22 billion)
to buy out Virgin Radio Holdings Ltd. and its subsidiaries
in the UK from Scottish media company SMG Plc. With the deal,
TIML has got the AM national licence and the FM London licence.
TIML will manage the station along with Absolute Radio, the
European group that already owns the music station Jack FM
in Oxford.
As
part of the acquisition deal, the Virgin brand will go back
to Richard Branson's Virgin Group.
Virgin Radio, which is the only rock format commercial FM
radio station in London, has the largest reach in the 15-44
years age group. It is also the only commercial music radio
station that covers all UK in the AM format.
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