he glow around publishing was pricked a long time ago, though catalogs are still a much better buy than recordings. Just ask Guy Hands.
In that spirit, BMG Rights Management has now announced its purchase of Chrysalis for $169 million (£107.4 million), the latest in a string of high-profile publishing acquisitions. The buyout brings a massive 100,000-strong catalog into the BMG fold, including songs from Blondie, David Bowie, and Michael Jackson.
Under the terms of the buyout, Chrysalis shareholders will receive 160 pence in cash for each share held. That is a 46 percent premium over current stock valuations. “It is intended that the Acquisition will be implemented by way of a court approved scheme of arrangement," BMG stated.
Complete terms here.
