Chrysalis have confirmed it has signed a conditional sale and purchase agreement for the disposal of its books division to a new company formed by the Chief Executive of Chrysalis Books.
Robin Wood will be in charge of the new company, Anova Books, leaving Chrysalis free to concentrate on their radio and music interests.
Richard Huntingford, Chief Executive of Chrysalis, said: ‘The exit from our loss-making and non-core books division achieves our objective of focusing Chrysalis Group on our core radio and music businesses where we enjoy strong market positions that offer good growth prospects and potential for developing long-term shareholder value.’