The Mail on Sunday

Chrysalis buys First State for £11 million


SONGS from Sheryl Crow including If It Makes You Happy and Everyday Is A Winding Road along with music from Jefferson Airplane and The Carpenters have been acquired by independen­t music group Chrysalis, which has bought First State Media Group.

Chrysalis, headed by chief executive Jeremy Lascelles, took control of 45,000 music copyrights when it acquired the group for £11 million.

Among other songs acquired as part of the deal are Jefferson Airplane’s Somebody To Love, John Denver’s Take Me Home Country Roads and Disco Inferno by The Trammps.

The deal is being fully funded from Chrysalis’s existing facilities and it has a further £22.4 million for future acquisitio­ns.

Chrysalis flagged up that it was set to hit the acquisitio­n trail when in February it reported a nine per cent rise in turnover in the first quarter of its financial year.

The publisher benefited from its songs being used in commercial­s.

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