British entrepreneur Richard Branson’s Virgin Group has unveiled plans to roll out a pan-Asia FM radio station network from Hong Kong under the Virgin Radio brand.

The company plans to acquire or set up its own radio stations in Hong Kong and nine other countries in Asia, focusing initially on Taiwan, the Chinese mainland, Singapore, Thailand and India. Deregulation of the radio market in parts of the region, notably India and Malaysia, is expected to drive growth of new stations.

Virgin is hoping to finalise an agreement with Hong Kong-based venture capital firm ChinaVest, on setting up joint venture Virgin Radio (Asia) Ltd to carry out the plan. It is to be 75 per cent held by Virgin.

Chairman of Virgin Group Richard Branson said he was thrilled to team up with ChinaVest. “Their 16 years of investing in Greater China will certainly help us in our understanding of the needs of these exciting markets.”

Virgin (Asia) Management chairman and chief executive Andrew Craissati said while Virgin had operated radio stations independently in London, the company preferred to work with local partners to offer local language radio content.

Virgin wants to leverage its well-known brand that many Asian consumers associate with its airline operation – Virgin Atlantic – to help market its other products and services such as mobile phone service, soft drinks, retailing, as well as music recording and distribution in Asia.

“We have plans to build 250 retail shops across Asia over the next two years, and we expect Virgin Cosmetics shops to come to Asia in about six months,” Mr Craissati said. Virgin has plans to enter the Hong Kong market with its Virgin branded mobile phone service next year. www.virgin.com