Chrysalis boss adds to stake

Chris Wright, chairman of the music group Chrysalis, spent more than £150,000 on shares in the company he co-founded yesterday, it confirmed today.

He took 300,000 shares at 56.5p each and now has nearly 19m.

Late last year, Chrysalis said its first year as a focused music and distribution firm had been "extremely challenging" due to uncertain macro economic conditions, the abandoned sale process, the US screen writers strike and ongoing declines in the entertainment market.

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The firm's roots go back to 1967, when Wright, then aged 22, and his university colleague Terry Ellis used their experience of booking bands for student entertainment to form the Ellis Wright Agency.

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