But what comes to Branson as a bonanza may be a bad start for BCCL, as right at the onset they have to kiss the ‘all-popular’ brand
name Virgin Radio a goodbye. However, industry experts feel that Virgin Radio buyout is not a bad deal for BCCL. Sample this: BCCL has bought Virgin Radio from SMG for $106 million (in 2000 SMG bought Virgin Radio for $500 million at five times higher price). With the assets of the company valued around $136 million and the radio channel commanding a regular listenership of 2.7 million, this means that even without the brand name it’s a lucrative deal for BCCL. Amita Sarkar, Media & Entertainment Head, FICCI, feels, “BCCL is a huge success in itself as far as brands are concerned. Given the infrastructure of Virgin Radio, creating a new radio brand in UK won’t be a difficult task for BCCL. Brand creation is something that it knows the best.”
BCCL will invest approximately $30 million over the next few months to re-brand the acquired company. However, the challenge remains to establish a brand, which will be equally adored by UK radio listeners. The competition is definitely going to be tough as a lot of consolidation is happening in the UK radio sector. Moreover, in the times to come Richard Branson himself will launch a new radio station under the Virgin brand itself. That again will be a big challenge for the Indian media house. But with the growing Indian population in UK and a cult-following for BCCL-promoted TOI, the going won’t be tough for it.
name Virgin Radio a goodbye. However, industry experts feel that Virgin Radio buyout is not a bad deal for BCCL. Sample this: BCCL has bought Virgin Radio from SMG for $106 million (in 2000 SMG bought Virgin Radio for $500 million at five times higher price). With the assets of the company valued around $136 million and the radio channel commanding a regular listenership of 2.7 million, this means that even without the brand name it’s a lucrative deal for BCCL. Amita Sarkar, Media & Entertainment Head, FICCI, feels, “BCCL is a huge success in itself as far as brands are concerned. Given the infrastructure of Virgin Radio, creating a new radio brand in UK won’t be a difficult task for BCCL. Brand creation is something that it knows the best.”BCCL will invest approximately $30 million over the next few months to re-brand the acquired company. However, the challenge remains to establish a brand, which will be equally adored by UK radio listeners. The competition is definitely going to be tough as a lot of consolidation is happening in the UK radio sector. Moreover, in the times to come Richard Branson himself will launch a new radio station under the Virgin brand itself. That again will be a big challenge for the Indian media house. But with the growing Indian population in UK and a cult-following for BCCL-promoted TOI, the going won’t be tough for it.
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
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