Virgin Radio, the British radio station has been put up for sale by its owners, the Scottish television company, SMG.
In 2000, SMG bought Virgin Radio for £225m and has recently put the station on the market as part of its decision to sell off some non-core assets and reduce its debts.
Originally SMG planned to float the company, but the idea was shelved because of problems in the credit market. So far there have been some poor offers which has resulted in the sales deadline being pushed back.
The company are determined not to be pushed into a sale until it is offered "the right price", according to reports.
Virgin has been valued at £85m on its books, but it has been questioned by analysts, whether the station will sell at this price.
Bidders for the radio station include Global Radio, UTV and Vitruvian Partners, a private equity group.
