UTV has reported a “resilient” first-half performance, with pre-tax profits of £11.2m (€14.1m) and an over-performing Irish radio portfolio — giving it “a strong platform for growth”.

UTV has appointed Richard Huntingford — the former chief executive of London-based media group Chrysalis — as its new chairman.

The boss of UK music publishing and radio group Chrysalis is today understood to be considering the possibility of a management buyout of the firm’s radio business if private equity backing can be secured.

Media group Chrysalis suggested today it may have turned the corner after a tough year saw it slump nearly £30m (€44.6m) into the red.