Chrysalis transforms profit to loss

NEWS Chrysalis CEO Richard Huntingford said, however, that the new media division will hit profitability within three years. He pointed out that the company's Rivals.net is ranked as the largest sports site in the UK, having overtaken SkySports. In the six months to the end of February, Chrysalis spent £9.1m on its new media division, which includes sports site Rivals, black music site blackerthanblue and business directory Citipages, which covers over 100 British cities. The money spent wiped out the £4.3m profit made by other parts of the Chrysalis empire. Chrysalis is best known for its Heart and Galaxy radio stations, which saw profits up 38 per cent due to an audience increase of 12 per cent. Its video entertainment division, the repertoire of which includes Midsomer Murders, Clarkson and the World Rally Series, is also responsible for Richard and Judy's move to Channel Four in a £10m per year deal for two years.