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Warner Music eyes UK's Chrysalis music arm: papers

LONDON
Sun Jul 22, 2007 8:25am EDT

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LONDON (Reuters) - Warner Music Group (WMG.N) is considering making a bid approach for the music publishing arm of Britain's Chrysalis (CHS.L), newspapers said on Sunday.

Mergers & Acquisitions

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 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 it had decided against bidding for rival EMI Group Plc EMI.L, leaving EMI to bidder Terra Firma.

Neither Warner or Chrysalis could immediately be reached for comment.
Mergers & Acquisitions


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