It just keeps growing and growing and growing: BMG is about to take over the British music publisher Chrysalis – a name that is music not just to the ears of connoisseurs. The traditional company, founded more than 40 years ago, has songs by icons such as Billy Idol, David Bowie, Jethro Tull, Kylie Minogue, John Denver, Leonard Cohen, Runrig, Sheryl Crow, and Tears for Fears in its growing catalog, as well as current hits by Cee Lo Green and Rumer – who shot to No.3 in the British charts two weeks ago. BMG plans to invest £ 107.4 million in its purchase of Chrysalis, (nearly €130 million / $168 million), the future partners announced in London on November 26th.
Founded in the summer of 2008, BMG under Hartwig Masuch has quickly become a prime example of the strategic development of a new business at Bertelsmann in a clear growth market, using existing entrepreneurial expertise. Since July 2009, BMG has been run as a joint venture between Bertelsmann and KKR. Recently, BMG has been growing through acquisitions on an almost monthly basis. The purchase of the French rights catalog Music Addict in April was followed in June by the acquisition of the U.S catalog Adage IV. In July this year, the company announced the takeover of the prestigious independent music publisher Stage Three Music in Britain. In September, this was followed in turn by the acquisition of Evergreen Copyrights in the U.S. And most recently in October BMG bought 50 percent of the music rights held by TG Publishing in Denmark.
