Chrysalis Group is generating interest from both music publishers and the media as the music publisher’s bid-deadline wraps on Tuesday.
Today’s bid-deadline closure passed with a buzz in the British press, as speculation mounts on who will take on the indie. And at what price.
As previously reported, Guy Hands’ EMI Group is understood to be among the prospective parties, as are Warner/Chappell, Sony/ATV and EMI, and private equity groups, including a consortium led by former BMG Music Publishing chairman Nick Firth.
First indicative bids were due Dec. 19; all were rejected, sources say. New bids were first submitted in mid-January. A spokesman today declined to comment on the latest bid deadline.
Chrysalis founder and chairman Chris Wright announced a review of the business last year, which could result in the sale of the company.
Chrysalis’ music publishing arm has the rights to artists including David Bowie, Gnarls Barkley and Athlete, and it recently signed a worldwide deal with former Smiths guitarist Johnny Marr. Chrysalis assets include the Echo label and the international wholesale distribution business Lasgo Chrysalis.
The London-based company sold its radio business last July to Global Radio for £170 million ($340) in order to focus on its music companies. The firm recently said it was in preliminary discussions with “select parties” which could lead to an offer.