Chrysalis Music has dismissed press reports which had claimed the independent entertainment firm was looking to sell its music publishing arm to Warner Music Group.

"It's idle speculation, and nothing more than that," Chrysalis Music Division CEO Jeremy Lascelles tells "This has not even enough substance to be worth issuing a riposte for it. It's a non-story."

A spokesperson for Warner Music declined to comment.

Separate unsourced reports in Sunday's the Observer newspaper and in the Financial Mail suggested the publishing arm could go for more than £100 million ($200 million), and give a shot in the arm for Warner's existing publishing business, Warner Chappell Music.

London-based Chrysalis Group recently sold its radio interests to Irish private equity firm Global Radio in a deal worth £170 million ($340 million).