Chrysalis Group starts strategy review

Chrysalis Group has launched strategic review of its business, which could lead to a demerger of its radio business.

The company has appointed Hawkpoint Partners to advise on the review of the division, which includes radio brands LBC, Galaxy and Heart, whose breakfast show is presented by Jamie Theakston.

Chrysalis chief executive Richard Huntingford says: “The valuable market positions we have created at Chrysalis Radio, coupled with the ongoing consolidation in UK radio, suggest that now is an appropriate time to consider a formal review of our strategic options in this area.”

He adds that the group has no “preconceived view on the outcome of the review” but says it is committed to “ensure Chrysalis Radio’s participation in the long-term development of the sector”.