Two left in race for Virgin Radio

THE shortlist of companies in line to take over Virgin Radio has been cut back to only two.

UTV – the owner of Edinburgh-based all-talk station Talk 107 and Dundee music station Wave 102 – and Absolute Radio, which owns regional stations across the UK, are understood to be the only two firms remaining from last month's shortlist of four.

It is also understood that offers worth between £60 million and £70m have been lodged with SMG.

Global Radio, the group backed by Irish racing tycoons John Magnier and JP McManus, is believed to have dropped out.