Chrysalis To Sell Television Group To Former ITV Heads
Chrysalis Group is set to sell its television division to a management buy-in group led by a trio of former ITV heads.
The company today confirmed that a sale has been agreed in principle with debt and equity providers, although the exact terms have yet to be finalised.
The management buy-in group is led by Steve Morrison, formerly chief executive at Granada; Jules Burns, formerly managing director of operations also at Granada and David Liddiment, who was previously ITV’s director of channels.
Chrysalis Television Group owns a number of production and distribution businesses, including Cactus Television and Bentley Productions and has a strategy to ‘develop, produce and distribute prime-time entertainment programmes with long term value and worldwide appeal’. It has offices across Europe and in Auckland.
Chrysalis says that it will update shareholders with further information in due course. Following the announcement, shares in the group were up by 7.7% at 204p by 10.00am today.
Chrysalis: 020 7221 2213 www.chrysalis.com
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