Chrysalis management buy-out?
The chief executive of Chrysalis PLC is understood to be considering a management buyout of the company's radio division. Richard Huntingford has held discussions about organising a buyout which would involve senior management, including radio boss Phil Riley.
However, last night Huntingford told The Telegraph: "A management buyout is not on the agenda at the moment." But it is understood that private equity backing would put the option firmly on the table, and give Phil Riley a chance to continue to run the radio division, including Heart 106.2, currently the number one commercial station in London.
It is thought that GCap Media and Emap are not interested in buying the assets, and last week it was reported that GMG, the most likely buyer, are too busy with their recently acquired stations to want to buy the radio division.
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