Music Publisher, Chrysalis, announced a takeover deal yesterday (November 26) that will see the company sold for £107.4 million ($167.7 million).

The London-based company, whose back catalogue includes songs by David Bowie, Michael Jackson, Debbie Harry, Damon Albarn and Thom Yorke, is being acquired by German competitor Bertlesmann Media Group (BMG) and private equity group Kohlberg Kravid Roberts.

Chris Wright, who co-founded the group in 1968, described the deal as 'the end of an era' for the group, and has taken semi-retirement. The 66-year-old will walk away with an estimated £29 million ($45 million).

Chrysalis, who sold the record label of the same name to EMI in 1991, now focuses on music publishing and recording, artist management and entertainment product distribution. 

Watch the video for Blondie's classic 'Heart of Glass', an EMI Publishing signing, below: