Vitruvian, a private equity firm launched last year by former executives at Apax Partners and BC Partners, is believed to be partnering with US firm Veronis Suhler Stevenson to bid for Emap’s radio stations.
The two have been linked with the radio arm of the UK publishing group before, but UK daily The Telegraph said today that the two have been in talks over a £400m to £600m (US$844m to US$1.265bn) bid.
As previously reported, any bid would be fronted by former Chrysalis Radio chief executive Phil Riley.
The report added that there is no definitive agreement to submit a second round offer. Bids are due before the end of November.
Other potential bidders include Gcap, Global Radio and UTV.