MALAYSIAN pay-TV operator Astro All Asia Networks has reportedly joined the bidding race to buy radio station Virgin Radio from Glasgow-based media group SMG.

The race for control of Virgin Radio took a new twist today after it was reported that Malaysia’s largest media company had entered the fray.

Debt-laden broadcaster SMG moved closer to overhauling its finances today after unveiling a new five-year, £90m (€126m) loan facility.

Strong gains from miners and retailing giant Marks & Spencer helped the London market rebound from a three-day run of losses today.

Debt-laden broadcasting group SMG turned to investors today in a bid to help it avoid a cut-price sell-off of its Virgin Radio station business.

UK broadcaster SMG said today it had not yet ruled out a stock market listing for Virgin Radio, despite “significant interest” from potential buyers.

Media group SMG today announced plans to sell its billboard advertising business Primesight for up to £62m.

Virgin Radio today looked set for a stock market listing at around half the price paid to the broadcaster’s previous owner, DJ Chris Evans.

Broadcaster UTV today said it had bucked the trend for declining radio advertising revenues, as its radio business delivered profits up by more than 50% last year.

TalkSport owner Ulster TV and Virgin Radio owner SMG said talks over a possible merger had come to an end.

Capital Radio and Classic FM parent group GCap Media today confirmed it had hired former Virgin Radio head Fru Hazlitt as it struggles to turn its fortunes around.

The Iseq index of shares has had a negative start to the day with a 11-point fall by 11am.

Shares in Corus soared 5% today as investors sat back and enjoyed a dramatic bidding war for the Anglo-Dutch steel company.

Ulster TV confirmed today they were back in merger talks with SMG.

Corus shareholders reaped further rewards today from the dramatic bidding war involving the Anglo-Dutch steel group.

The ISEQ fell 43.12 points to close at 8694.33 today.

Ulster Television was today said to have renewed its interest in a merger with Virgin Radio owner SMG.

Online gaming companies were on the front foot today amid hopes of consolidation in the battered sector.

ITV is rumoured to be considering a bid for Glasgow-based broadcasting and media company Scottish Media Group (SMG), which owns Virgin Radio and STV, the Scottish regional ITV licence, among other things.

The performance of Corus shares continued to suggest today that investors remained on standby for a rival approach to Tata’s £4.3 billion offer.

Ulster Television announced today it is no longer interested in a merger with Virgin Radio owner SMG.

Virgin Radio owner SMG said today that it had rejected two merger proposals from rival Ulster Television but invited the talkSport owner to come back with a better offer.

AN element of large shareholders in Scottish Media Group (SMG) has urged the company’s bosses to consider a nil-premium merger with Ulster Television (UTV).

Virgin Radio owner SMG is likely to reject a proposed merger of equals with rival talkSport firm Ulster TV, it was reported today.

The owners of Virgin Radio and talkSport were today in talks over a merger thought to be worth around £400m (€588m).

Speculation was mounting today that Ulster TV could be preparing a £300m (€439.7m) move for the media group SMG, which owns Grampian and Scottish TV, Virgin Radio and the Pearl & Dean advertising business.

Virgin Radio owner SMG posted a 46% hike in profits today but warned that continued weakness in the volatile advertising market could hit revenues.

Losses by oil heavyweights and a spate of profit-taking brought the recent rally by the London market to an end today.

Broadcaster ITV led the FTSE 100 Index to a positive close today despite conflicting signals over the likely path of interest rates.

Investors applauding cuts in the amount broadcasters pay for TV licences helped ITV to become the hottest stock in London today.

Broadcaster ITV was today offered deep cuts in its licence fee to help it cope with the challenge of the digital age.

The FTSE 100 Index ended the week below the 5000 mark today after disappointing unemployment data in the United States.

ULSTER Television has launched a €130 million bid for The Wireless Group, which runs Britain’s largest commercial talk radio station.

Takeover talk was fuelling London shares again today as the FTSE 100 Index held ground above the key 5000 barrier.

Scottish media group SMG has rebuffed a £100m (€145.3m) bid for Virgin Radio, it emerged today.

Hearts today took a big step towards quitting Tynecastle for good by announcing they have reached a conditional agreement to sell the stadium for £22m (€32.5m).

ONE of the co-owners of TV3 has offloaded its entire stake in rival broadcaster Ulster Television.

The owner of ITV franchises Grampian and Scottish Television today said it had done a deal with the newly-merged ITV group to insulate itself against falls in advertising income.

ULSTER TELEVISION saw turnover increase by 14% to £54 million (€79 million) last year. However, profits fell by £0.3 million to £13.6 million as the Belfast-based broadcaster faced higher interest charges and programming costs.

London’s benchmark FTSE 100 Index remained in the red today as fresh concerns about the state of the UK’s economy took the shine off a buoyant media sector.

Millionaire ex-DJ Chris Evans is to pay £7m (€9.86m) to the owners of British radio station Virgin Radio following his failed multi-million damages claim against the station, it was announced today.

Chris Evans today shrugged off his failed multi-million pound damages battle against Virgin Radio – defiantly claiming he could “afford to lose” the cash.

The courtroom battle between Chris Evans and the radio station where he was once the star is to be decided on June 26.

London’s leading shares endured a session of uncertainty today as dealers remained concerned about the potential for a protracted conflict in Iraq.