Chrysalis in tune as share price rises on merger talk

SHARES in Chrysalis soared yesterday as the music publisher with a copyright on acts including David Bowie and Boy George confirmed speculation that it was in merger talks with several suitors.

Buyers could include music publisher Bug Music, which has a 250,000-strong rights catalogue and is backed by private equity. Another is said to be Imagem Music, which includes classical publisher Boosey & Hawkes and handles rights management for acts including Vampire Weekend and Justin Timberlake.

Chairman Chris Wright, who co-founded Chrysalis 43 years ago with former business partner Terry Ellis, is looking for a sale or merger. He owns a 29 per cent stake, having bought out Ellis in 1985.

The shares closed up 18.6 per cent or 20.5p at 130.5p.