Bowie Company Selling Up
The British record company that handles David Bowie, Billy Idol, Blondie and Leonard Cohen's back catalogues is up for sale for a staggering $300 million (GBP150 million). The independent Chrysalis Group, courted in the past by major labels including Warner Music, has hired an investment bank to help it attract a prominent buyer. Chrysalis' publishing division manages the libraries of Bowie, Idol, Blondie, Leonard Cohen and Gnarls Barkley. It also owns a record label called Echo, which boasts an artists roster including Feeder, Morcheeba, Bat For Lashes and Ray Lamontagne. Warner Music and Sony are frontrunners to buy the group.