Report: EMI Rejoins The Bidding For Chrysalis
February 5, 2008 at 5:41 AM (PT)
EMI Chairman GUY HANDS is planning to make a second-round bid for CHRYSALIS by today's deadline, reports THE LONDON TIMES. EMI is expected to be joined by rival music labels and private equity groups. Others considering second-round bids for CHRYSALIS, which owns the music publishing rights to artists such as BLONDIE and much of DAVID BOWIE's early work, include WARNER CHAPPELL and SONY ATV.
NICK FIRTH, the former Chairman/CEO of BMG MUSIC PUBLISHING, backed by a private equity fund and BUG MUSIC, is also said to be considering a bid.
Analysts have said that the group could be valued at between £150 million and £190 million.