Coldplay, Katy Parry, The Beatles Label EMI Up For Sale

Music company EMI, that has signed the likes of Coldplay, Katy Perry and Tinie Tempah, has been put up for sale.

EMI, owned by Citygroup, is being sold after it has accumulated around £3.2 billion of debt following the recent credit crisis, reports The Metro.

The music company, which also has The Beatles on its books, is expected to fetch between £1.5billion to £2.4billion.

Buyers for the company included Universal Music group, Sony Corp and Warner Music Group.

Meanwhile, Coldplay frontman Chris Martin played a role in securing Beyonce's headline appearance at this weekend's Glastonbury Festival.

For more information about Glastonbury and all this summer's festivals, check out the Gigwise Festival Guide.

Coldplay - live photos