[VMPhil]

Sorry to reply to my own post, I just remembered that when Capital moved into Leicester Square the idea was that the plan was to house Virgin Radio into the building too. They were in the process of trying to buy the station, but Chris Evans scuppered that and Branson sold it to him instead. The space and the money had put aside for Virgin were used to buy XFM

From what I remember reading Evans' first autobiography, the Capital/Virgin deal was going through protracted regulatory approval which allowed Evans to swoop in and do a deal himself with Branson. The Monopolies and Mergers Commission still published their report afterwards which said had the Capital deal had gone through, they would have had to sell off the Virgin FM licence.