The Week: City News - Absolute's turnover drops

Absolute Radio's parent company, TIML, has reported a fall in turnover of 8.2 per cent year on year as a result of investment in the Absolute brand and the effect of the recession. The company made a pre-tax loss of £2.7 million in 2008, down from the £3.8 million profit the company had made when it was still called Virgin Media in 2007.