Media: Chrysalis acquires 106 Century FM

Chrysalis Group has acquired 106 Century FM, the East Midlands commercial radio station, from GCap Media, for £29.5 million.

GCap, the company formed by the GWR and Capital Group merger, was obliged to sell the licence as part of the terms of its merger. Separately, Chrysalis has announced that its profits fell in the six months to 28 February from £2.2 million in the first half of 2004 to £300,000.