Chrysalis Negotiating With Lydian Capital Over UK Radio Sale
June 20, 2007 at 5:45 AM (PT)
CHRYSALIS is reportedly in exclusive talks with a private equity group to sell its UK radio division.
LYDIAN CAPITAL PARTNERS, which includes former KERRY GROUP CEO DENIS BROSNAN, thoroughbred owner MICHAEL TABOR, COOLMORE STUD owner JOHN MAGNIER, and MAGNIER's partners DERMOT DESMOND and J.P. MCMANUS, is based in SWITZERLAND and owns the CASTLEBECK healthcare company. It would likely pay in the neighborhood of 170 million-180 million pounds for the radio group, which includes the LBC, HEART, and GALAXY stations.