Chrysalis set for book sale to management for pounds 12.5m.(News)

From: Western Mail (Cardiff, Wales) | Date: September 17, 2005 | Copyright information

Media group Chrysalis yesterday said it was cutting its losses on its books division so it could focus on music and radio stations such as Heart and Galaxy.

Chrysalis revealed it was in exclusive talks with managers of the books division over a buyout worth pounds 12.5m.

Executives are keen to sell because the business has performed poorly over the past year and racked up costs when laying off 40 staff during the summer.

The decision was also taken...

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