The major, which is currently owned by Citigroup, was put on the market by the bank in June and around a dozen companies, including private equity companies such as Platinum Equity as well as rival music companies Warner Music Group, Sony Music, Universal Music and BMG Chrysalis, are reported to be seriously interested in purchasing the company - either as an entirety or for its publishing or recorded music arm.

Citigroup has made no secret that it is looking to ...