Virgin Radio’s former chief executive John Pearson has withdrawn from a bid to buy Absolute Radio due to a difference in opinion over price.
Pearson was reportedly hearing a deal before Christmas, but has since confirmed that he has withdrawn from the process, according to Radio Today.
The front-runner for the station could now be Bauer Media, who is also said to be looking at buying digital radio station Planet Rock.
A buy-up of the Absolute Radio assets would enable Bauer to put Planet Rock on FM in London if it decided to rebrand the national music station.
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