Shares in the music company are currently trading at 114p, up 7.5p since trading began this morning.

Chrysalis has been subject to sales rumours since selling its radio business to Global Radio in July. The group has also said that it expects to return £96.5m to investors.

The news comes one day after it was revealed that Chrysalis chief executive Jeremy Lascelles will receive a bonus of up to £650,000 if the company is sold.