Sir Richard Branson considers buying back Virgin Records

Sir Richard Branson could be back at the helm of Virgin Records, the music company he founded more than 40 years ago.

Current owner, Vivendi-owned Universal Music is reportedly planning to sell the company.

Universal is reportedly looking to buy rival label EMI for £1.2bn.

Sir Richard originally sold Virgin Records, the company he founded in 1970 aged just 20, to Thorn EMI for £510m in 1992.