Why would Chrysalis sell its radio stations?
The short answer is because it has to. Chrysalis is a plc, which means investors and the City expect it not just to produce profits, but continual growth. So notwithstanding its profitability, Chrysalis must either grow its radio business – which includes Heart, the No 1 station in London – or sell it. Chrysalis can only grow significantly by acquiring other radio stations, but some of its major shareholders seem reluctant to dilute their holdings to raise more cash. So the group seems to have little choice.
