Mr Campbell is to work on a digital television project which will launch at the end of the year.Capital is to change the emphasis of the Virgin stations to attract less mainstream and more male listeners. Mr Branson said the merger allowed both companies to challenge the BBC's "dominance" of digital audio broadcasting .Virgin AM, in common with the other two national commercial stations, is guaranteed a digital licence next year. The company's diversification into restaurants with the purchase of the My Kinda Town chain last year had caused concern.Lorna Tilbian, media analyst at Panmure Gordon, said Capital had paid a "very full" price, but she added: "Strategically, Virgin fits in well. If anyone could do this deal and get away with it, Capital could."However, other analysts were relieved that Capital had decided to consolidate its hold on the radio market. Assuming debt of pounds 22m, Capital's investment amounts to almost pounds 90m and equates to almost five-and-a-half times revenue.One analyst said: "Capital does have a phenomenal track record in radio. Cathy Newman Capital Radio yesterday moved to position itself for the pending digital radio battle with the BBC by acquiring Virgin Radio, which was founded only four years' ago by Richard Branson. Some City analysts, however, believed that Capital had paid a high price for Virgin's two commercial stations, Virgin AM, which broadcasts nationally, and the London rock station, Virgin FM. Birmingham City warns on transfers Birmingham City warned investors that it will make a loss in the full year if the club makes large player purchases, as it writes off transfer fees to profit and loss as incurred The statement came as the AIM-listed club posted pre-tax profits of pounds 27m for the six months to 28 February The figure included a net profit of pounds 14m on player transfers, principally the sale of Gary Breen to Coventry City Birmingham said proceeds from the sale will be re-invested in new signings.
Mousse Glacee is due to run this weekend and future plans should then become clearer, but Cecil's Oaks challenge seems sure to be restricted to Reams Of Verse, sixth in the 1,000 Guineas, and Yashmak, 14th of 15 runners in the same race."Both Fascinating Rhythm and Fiji have lung infections and are being treated," Cecil said. "I don't know how long it will take them to recover completely. It looks unlikely that they will be able to run in the Oaks, but they are not definite not to run. I want Reams Of Verse and Yashmak to run in one of the Oaks trials, they are fine after the Guineas, though Yashmak was very disappointing. I think the trip was too short for Reams Of Verse."Reams Of Verse is 8-1 from 12-1 for the Oaks with William Hill, who continued to offer prices on the race through the series of stories and rumours, unlike some other firms, who preferred to suspend their betting until the going was safer..
Richard Dunwoody made history at Southwell yesterday, his success on Jervaulx giving him 100 winners for the campaign for the eighth season in a row. He broke Peter Scudamore's record for successive centuries by a jump jockey, set up in the seven seasons from 1986/87 until his retirement in 1992/93. He equals Scudamore's record of eight career centuries, the former champion having also reached the landmark when he tied with John Francome for the title in 1981/82. Francome is the only other jump jockey to run the pair close, having become a centurion five times . "A lucky day," Dunwoody said. "I walked away from a crashing fall from Crown Equerry and then got the 100.