Irish equity firm Lydian Capital Partners reportedly bidding for Chrysalis Radio

An Irish private equity outfit called Lydian Capital Partners is reportedly in exclusive talks to buy Chrysalis Radio, which owns the Heart, Galaxy and LBC stations. The Chrysalis Group, which also owns the Chrysalis publishing catalogue, has been looking into the possibility of selling its radio assets for a while now while undertaking an internal review of its business. The Guardian reports that the asking price is likely to be between £175m and £177m and that a deal could be announced as early as tomorrow.