Chrysalis To Swap Galaxy 101 For London News Radio
Chrysalis Radio is in advanced discussions to take control of LBC’s owner, London News Radio, from GWR Group, the group has confirmed this afternoon.
No figure was cited in Chrysalis’ statement, but press reports speculate that the group will pay in the region of £25 million for LNR. However, the acquisition would be part of an asset swap, in which Chrysalis’ Galaxy 101 in Bristol and the cash consideration would be exchanged for LBC.
LNR operates the LBC and London News Radio stations.
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