Chrysalis Radio revenues were down 3%

Chrysalis Radio has reported revenues down 3% on last year, prior to its sale to Global Radio in July.

The Chrysalis Group, which published its preliminary results today, showed a turnover of £58.3 million with expected pre-tax earnings of £8.6 million for Chrysalis Radio in the 11 months it owned the company up to the year ending August 21 2007.

Following the sale, a number of management changes have taken place at Chrysalis. Richard Huntingford, group chief executive, has left Chrysalis and joined Virgin Radio as a non-executive chairman. Chief executive Phil Riley left in July, and Michael Connole, Chrysalis group finance director, will leave in January 2008 following an agreed handover period.

The £170 million sale of the radio division means the company is to deliver between £90 million and £100 million to shareholders at the end of the fourth quarter.