Bug for sale

BECAUSE OF THE TIMES: That $300 million figure represents a higher multiple than most other music company sales in recent years, Post reporter Claire Atkinson points out. It would equate to 12 times net publisher's share (NPS), or the equivalent of gross margin. Revenue is said to be $70 million. Music business banker Lisbeth Barron of Berenson & Co. told Atkinson: "Typical music publisher multiples currently range from 8 to 10 times net publisher's share for quality assets. Historically they've trended more toward the 10 to 15 times range." The indie market is heating up, the apparent result of an improving economic climate. Two months ago, Barron brokered the sale of Cherry Lane to KKR/BMG. (6/2a)