Chrysalis has revealed that its radio division saw revenues grow 5% year on year in January, after suffering a 10% decline for the four months to December 31.
In a trading update released today the group said that the decline in revenues felt over the last four months of 2006 was in line with the overall radio market.
Meanwhile, a report in today’s Financial Times suggests that Chrysalis could sell off its radio operations, including Heart 106.2.
The report states that Chrysalis is considering a strategic review and that Chris Wright, the company’s founder and 26% majority shareholder, is coming round to the suggestion put forward by Schroder, the second largest shareholder, that the radio business should be sold off.
The sale of the radio operations is thought to be more likely than the sale of its music publishing business as it has less room for growth.
The FT quotes an unnamed radio executive as saying: “Where are [Chrysalis] going with their business? The Guardian has bought most of the available assets.”
In March 2005 Chrysalis attempted to buy GMG radio, however it was unsuccessful with its bid (see Chrysalis Confirms Offer For Guardian Media Group).
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