Reports: WMG Considering Bid For Chrysalis Publishing
July 23, 2007 at 5:32 AM (PT)
WARNER MUSIC GROUP is considering making a bid approach for the music publishing arm of Britain's CHRYSALIS, reports various BRITISH newspapers. THE OBSERVER's unsourced report quoted analysts as saying the division would be worth around 100 million pounds ($205 million).
THE FINANCIAL MAIL's unsourced report said the division's current value was around 90 million pounds, but that it could fetch as much as 180 million.
CHRYSALIS GROUP said last month (NET NEWS 6/25) it planned to sell its radio business for 170 million pounds to a private equity firm, leaving CHRYSALIS as a pure music company.
WARNER said on TUESDAY (NET NEWS 7/17) it had decided against bidding for rival EMI GROUP PLC, leaving EMI to bidder TERRA FIRMA.