Chrysalis on the Block?

CHRYSALIS ON THE BLOCK? London-based music publisher Chrysalis Group confirmed that it is in discussions for merger opportunities. The music publisher, whose 100k-song roster includes Cee Lo Green, Sheryl Crow, Thom Yorke, Blondie and Velvet Revolver, among others, had interest from various publishers in 2007 and 2008, including Bug Music, but EMI was the only company to make a formal bid of $213 million, which was rejected as too low. The board of the company confirmed speculation that it is in “discussions with a number of parties,” adding that they “are at a very preliminary stage and there can be no certainty that an offer will be made." Likely candidates include Bug Music, BMG Rights Management and Imagem Music. Chris Wright, who owns 29% of the group, co-founded Chrysalis in 1968 and sold the record label to EMI in the ‘90s. The market capitalization for Chrysalis is around $119 million. (11/2a)