According to the Guardian, the Chrysalis Group is considering a complicated demerger to finance a bid to takeover radio stations owned by the Guardian. We don't know too much though because the Guardian were unable to get a comment from, erm, the Guardian.
Anyway, word is Chrysalis are interested in buying the Guardian Group's
Jazz FM, Smooth FM and Real Radio stations and that the company's management are considering demerging their radio business from their other media and music concerns in a bid to sell more shares so they can afford to buy the Guardian's radio assets. Or something like that.
Chrysalis are said to be keen to acquire other radio stations so that they are not too dwarfed by the mega-broadcaster that the Capital
GWR merger will create. Other stations they are said to be considering bidding for include SMG's Virgin Radio, and the Century stations which Capital will be forced to sell as part of its aforementioned merger with GWR.