Virgini Radio has been sold to to the parent company of Times of India newspaper The $106 million dollar deal will transfer the national AM license and FM London license to Bennett, Coleman & Co. but the "Virgin" brand name is not part of the deal.
The new owner of the licenses can use the "Virgin" name for 90 days then has to assume a new identity for them. If Bennet, Coleman & Co. decide in the next two years it would like to use the "Virgin" name, it will cost another $16 million for the rights.