NEWS: SCOTTISH MEDIA GROUP PLC AND 'VIRGIN RADIO': DIARY OF DISASTER by GRANT GODDARD

www.grantgoddard.co.uk February 2005

31 Jan 2000: At an extraordinary general meeting, Scottish Media Group plc [SMG] approves the acquisition of Ginger Media Limited. SMG Chairman, Don Cruickshank, said: "The acquisition of Ginger Media will transform SMG's position in the UK media market and will create significant value for our shareholders.” 14 Mar 2000: SMG announced that it had completed its acquisition of Ginger Media for £225m, including “two highly profitable radio licences.” SMG chief executive Andrew Flanagan, Chief Executive of SMG, said: "The addition of Virgin Radio, Ginger Television and Ginger Online to the group makes SMG a leading player in UK media.” 25 Apr 2000: Ginger Media chief executive David Campbell, who had managed 'Virgin Radio' since its launch, resigns. 14 Sep 2000: SMG appoints Bobby Hain, former managing director of 'Beat 106' and former programme director of Virgin Radio, as business development director of its radio division. 27 Nov 2000: SMG announces its bids for the South & West Yorkshire regional FM radio licence. 27 Feb 2001: SMG preliminary results talked about the “transforming acquisition of Ginger Media.” 15 Mar 2002: SMG announced it was renegotiating its debt with lenders. 28 Jul 2003: SMG agrees to accept £7m from Chris Evans for costs and damages in his action concerning breach of contract at Virgin Radio. 18 Dec 2003: Having won SMG no new radio licences in the last three years, Bobby Hain is moved to the post of managing director of 'Scottish TV'.

[Submitted to 'The Radio Magazine', unpublished]

Grant Goddard is a media analyst / radio specialist / radio consultant with thirty years of experience in the broadcasting industry, having held senior management and consultancy roles within the commercial media sector in the United Kingdom, Europe and Asia. Details at http://www.grantgoddard.co.uk

News: Scottish Media Group plc And 'Virgin Radio': Diary Of Disaster ©2005 Grant Goddard

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