VELVET REVOLVER's Label Chrysalis Confirms Merger Talks
November 2, 2010, 13 years ago
According to Andre Paine from Billboard.biz, London-based Chrysalis Group confirmed yesterday (November 1st) that is in discussions for merger opportunities.
Chrysalis had interest from various publishers in late 2007 and early 2008 including Bug Music. But EMI was the only company to make a formal bid at that time: the offer - which valued the company at around £133 million ($213 million) - was rejected as too low.
The developing global financial crisis meant the lengthy auction process was called off in April 2008.
The company has a 100,000-strong catalog in its publishing division, and its roster includes VELVET REVOLVER, SHERYL CROW and BLONDIE
as well as interests in songs recorded by MICHAEL JACKSON and DAVID BOWIE.
Yesterday (November 1st) the board of directors confirmed speculation that it is in "early stage discussions with a number of parties regarding merger opportunities."
Read more here.
