NSDTCM:Bidders circle Chrysalis

EMI among potential buyers

LONDON — Independent music group Chrysalis has become the focus of a bidding war as prospective buyers line up to attempt a takeover.

The second round of bidding for the company closes Tuesday and among those said to be mulling an acquisition are Warner Chappell, Sony ATV and EMI, as well as private equity groups, including a consortium led by former BMG Publishing chairman Nick Firth.

Those hoping to buy Chrysalis will likely have to bid in excess of £150 million ($297 million) for the company’s assets, which include the Echo record label, a music publishing arm and distribution company Lasgo.

Chrysalis sold its radio business last year for £170 million ($336 million) and the company’s board is said to be talking to a number of interested parties with a view to selling the rest of the business.

SOURCE:VARIETY MUSIC NEWS

(FULL STORY)

LINK:CHRYSALIS GROUP

LINK: EMI GROUP

LINK:SONY ATV MUSIC PUBLISHING

LINK:BMG PUBLISHING (PROFILE WIKIPEDIA)

LINK:LASGO CHRYSALIS DISTRIBUTION GROUP

LINK: ECHO RECORD LABEL

LINK:WARNER CHAPPELL