The British record company that handles David Bowie, Billy Idol, Blondie and Leonard Cohen's back catalogues is up for sale for a staggering $300 million.

The independent Chrysalis Group, courted in the past by major labels including Warner Music, has hired an investment bank to help it attract a prominent buyer.

Chrysalis' publishing division manages the libraries of Bowie, Idol, Blondie, Leonard Cohen and Gnarls Barkley. It also owns a record label called Echo, which boasts an artists roster including Feeder, Morcheeba, Bat For Lashes and Ray Lamontagne.

Warner Music and Sony are frontrunners to buy the group.

(This news article provided by World Entertainment News Network)