Media company Chrysalis Group is in talks with an unnamed private equity group over the sale of its radio unit, a source familiar with the situation told Reuters on Wednesday.

Chrysalis said in February it had launched a strategic review that could lead to the sale of the unit which includes the popular Heart 106.2 station. It said in March that it had received a number of approaches and a conclusion should be reached by the summer.

The source said Chrysalis had received a number of offers and was in talks with one private equity group but declined to name it. The source said the talks were not exclusive.

Analysts have priced the unit between £160 million ($316 million) and £200 million ($395 million).