Chrysalis TV Group is poised for a renewed push into Europe after taking full control of its Holland-based joint-venture CVI Media Group last week, writes Colin Robertson.
Chrysalis TV Group chief executive Mick Pilsworth told Broadcast that following the deal, in which Chrysalis bought publisher VNU's 49.8 per cent stake for an undisclosed sum, the company would target new markets in Scandinavia, Germany, Italy and France. Through CVI, Chrysalis already owns IDTV in Holland, 50 per cent of IDTV in Portugal and 50 per cent of Iman-IDTV in Spain.

Pilsworth added the strategy, which is being overseen by CVI chief executive Harry de Winter, was unlikely to involve Chrysalis buying anything outright.

'We thought for a long time that we wanted to own things 100 per cent eventually,' he said. 'I don't think we think that anymore. We've got to a point where we'd be happy to do joint-ventures.'

The CVI deal was announced as part of a five-fold increase in profits for Chrysalis TV Group. Turnover rose from£57.6m in 1999 to£61.9m in 2000, with profits up from£480,000 to£2.56m. Pilsworth put the growth, which was reported as part of an overall year-end loss of£16.8m for parent company Chrysalis Group, down to the consolidation of the company's TV brands.

Elsewhere in the group results, Chrysalis Radio reported increased revenue up 18.3 per cent year on year. Overall losses were put down to failed new media ventures. Chrysalis has now merged its sports internet divisions with those of the 365 Corporation.

Interview, page 19.