Chrysalis Mulls Radio Sell-Off
February 12, 2007 at 5:30 AM (PT)
CHRYSALIS RADIO says that it is considering the sell-off of its UK radio division as part of a strategic review of its operations.
CEO RICHARD HUNTINGFORD said that the company could spin off the division as a single entity, sell off individual stations, or start a joint venture with another company to operate the stations. He noted that the division was doing well and that "further industry consolidation is necessary so as to strengthen the commercial radio industry."
CHRYSALIS is the third-largest radio group in the UK and owns the HEART, LBC, and GALAXY analog and ARROW digital stations.