Pringle, who had overall programming responsibility for the seven-strong stable of Heart and Galaxy stations, joined Chrysalis in 1994. He is launching the new venture, a 'unique music and lifestyle destination' called Ride the Tiger, with Chrysalis Radio Online content director Ande Macpherson, who has also resigned.
Chrysalis is ploughing£4 million into the project, giving it a 65 per cent stake. Pringle said the venture, which is expected to launch in the summer, would seek to 'combine the warmth of radio with the power and versatility of the internet'.
According to Rajar figures announced last week, Chrysalis Radio's share grew slightly in the final quarter of last year to 6.7 per cent, compared with 6.6 per cent in the same period in 1998.