Chrysalis says it is looking at all options
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Chrysalis is to review future options for its radio interests, which may lead to a sale or demerger of the business.
The firm, which operates the Heart and Galaxy networks, said the review would focus on delivering "maximum" value for its shareholders.
It cited the strong recent growth of the business and consolidation within the industry as reasons for the move.
Some analysts have called for the firm's radio business to be separated from its music publishing arm.
'Valuable position'
Chrysalis is the third largest commercial operator in UK radio.
Group chief executive Richard Huntingford said the company had no "pre-conceived view" on the result of the review.
"The valuable market positions we have created at Chrysalis Radio, coupled with the ongoing consolidation in UK radio, suggest that now is an appropriate time to consider a formal review of our strategic options in this area," he said.
Although Chrysalis shares rose in early trading on the London Stock Exchange, they ended the day unchanged at 157.25 pence.
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