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Saturday, November 27, 2010

BMG Acquires Chrysalis

BMG ACQUIRES CHRYSALIS: In a deal long-rumored and now fact, BMG Rights Management add to their string of music publishing acquisitions by purchasing Chrysalis in a deal valued at $168 million. Chrysalis’ catalog of 100k titles includes songs by Blondie, David Bowie and Michael Jackson. BMG had earlier this year snapped up publishers Evergreen, Stage 3 and Cherry Lane. The company offered Chrysalis a 46% premium from the company’s price on Oct. 29. The deal will make BMG the world’s fourth-largest music publisher in global marketshare. BMG will continue to use the Chrysalis name for three years, with co-founder Chris Wright joining its supervisory board as a non-executive British chairman. (11/27p)

 
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