The pitch, which is being run through the AAR, has seen an initial shortlist of six creative houses clipped to four with the final pitches scheduled to conclude early next week.
Chrysalis Group has major plans to drive the profile of the talk station to appeal to a younger demographic as it pushes ahead with plans to shift LBC from the AM frequency to 97.3FM in the new year. It currently targets the over-35 age group.
As part of the move to freshen up the brand's image, Caroline Feraday, who presents The Weekend News with Matthew Bannister on BBC Radio Five Live, will join the on-air team, after turning down an offer from Capital Radio to co-host Chris Tarrant's breakfast show.
Rajar data for the third quarter this year showed a 33 per cent leap in listeners to LBC to 480,000.
The review will not affect the ad accounts for the Heart and Galaxy radio stations which are handled by EBP, or MediaVest's media account. It follows the acquisition of LBC last month.
Chrysalis acquired LBC's owner, London News Radio, from a consortium of ITV, Reuters, DMGT and GWR for £23.5 million.