Thorn EMI to Buy Chrysalis Stake: Consumer...

Thorn EMI to Buy Chrysalis Stake: Consumer electronics giant Thorn EMI has agreed to pay up to $104.1 million for a half-interest in the British-owned record maker Chrysalis Record Cos., the companies said. If the deal is completed, Thorn EMI would manufacture and distribute records for Chrysalis, the label for Billy Idol, Huey Lewis & the News, Pat Benatar and others. Thorn EMI artists include Paul McCartney, Pink Floyd, Tina Turner, David Bowie and others, and the company also has a large classical music catalogue. Chrysalis would continue to operate independently in Britain and the United States, the companies said, and Chrysalis Chairman Chris Wright, who owns 43% of Chrysalis Group stock, would remain at the helm.