Chrysalis writes off $14.1 mil from new-media ventures

Business Brief

Chrysalis Group has said it will write off £9.6 million ($14.1 million) it invested in new-media ventures.

The TV-to-radio-to-music company’s share price fell 12% on the news. Chysalis said it would only continue to fund Rivals, its successful sports U.K. Web site.

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