Malaysia's Astro bids for UK's Virgin Radio -paper

KUALA LUMPUR, Feb 17 (Reuters) - Malaysian pay-TV operator Astro All Asia Networks (AAAN.KL: Quote, Profile, Research, Stock Buzz) has joined the bidding to buy radio broadcaster Virgin Radio from British media group SMG Plc SCSMG.L, the Telegraph newspaper reported on Sunday.

Astro, part of the business empire of Malaysian billionaire Ananda Krishnan, is competing with three British bidders for Virgin Radio: Global Radio, Absolute Radio and UTV Media (UTV.L: Quote, Profile, Research, Stock Buzz), the newspaper said in an unsourced report on its Web site.

"The four companies have lodged offers worth between 60 million pounds ($118 million) and 70 million pounds ($137 million) for Virgin Radio, which is valued at 85 million pounds on the books of its owner...," it added.

An Astro spokesman could not be immediately reached for comment on Sunday.

Astro has a virtual monopoly on pay-TV services in Malaysia and is also branching out internationally, with satellite pay-TV joint ventures in Indonesia and India.

Global Radio, which is also seeking to buy Britain's largest commercial radio group, GCap Media GCAP.L, is a privately owned firm chaired by former ITV Chief Executive Charles Allen.

Absolute Radio invests in and provides consultancy services to the radio industry.

UTV, which holds the independent TV broadcasting licence for Northern Ireland, has expanded aggressively into radio in the past three years and now owns 24 radio stations, including the talkSPORT national station in Britain.

SMG put Virgin Radio up for sale as part of its plan to sell off non-core assets. It had previously tried to sell or float the station, but delayed this in 2007 due to problems in the credit market and disappointing offers.

Another interested bidder in Virgin Radio, private equity firm Vitruvian, was knocked out of the contest after bids were submitted last week, the Telegraph said. The deadline for the next round of bids is in mid-March, the newspaper added. (Reporting by Mark Bendeich; Editing by Lincoln Feast)