From David Gambles:
Stagecoach Group plc has confirmed that Virgin Rail Group is in discussions with the Department for Transport regarding an extension to the current West Coast rail franchise agreement
http://www.stagecoachgroup.com/scg/ir/newsevents/rns/rnsitem?id=4245806
Previously the DfT had refused Virgin's proposal to extend the franchise but have now come around to thinking it may be a good idea
http://business.timesonline.co.uk/tol/business/industry_sectors/transport/article2326837.ece