Chrysalis to sell to Lydian?
The previously unnamed private equity group looking to buy Chrysalis radio stations has been named Lydian Capital Partners, a private equity firm backed by Irish tycoons JP McManus, John Magnier and Dermot Desmond. The Swiss-based company is chaired by Irish entrepreneur Denis Brosnan.
The news, reported in The Telegraph this morning, says Chrysalis is in advanced talks with the Partners after beating several other offers, one of which was from Macquarie – owners of a new licence for Plymouth. According the the report, the radio business is worth £170m-£180m.
If Lydian Capital succeed with their takeover bid, it will be the first time they have invested in the UK radio scene.
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