Chrysalis Group To Review Radio Options

U.K. independent music firm Chrysalis Group intends to initiate a formal review of the strategic options of its Chrysalis Radio arm. The wide-ranging review, disclosed today (Feb. 12), will assess all options which can deliver maximum value to Chrysalis shareholders, including a potential demerger of the radio and music business.

"The valuable market positions we have created at Chrysalis Radio, coupled with the ongoing consolidation in U.K. radio, suggest that now is an appropriate time to consider a formal review of our strategic options in this area," commented Chrysalis Chief Executive Richard Huntingford in a statement issued to the London Stock Exchange.

Given the company's trading position, Huntingford adds that the company starts its review "from a position of considerable strength." He adds, "We have no pre-conceived view on the outcome of the review, other than a commitment to ensure Chrysalis Radio's participation in the long term development of the U.K. radio sector and thereby deliver the greatest benefit to all stakeholders, including shareholders, listeners, advertisers and employees."

London-based corporate advisory firm Hawkpoint Partners Limited has been appointed to assist with the review.