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1.5B EMI/UNIVERSAL DEAL APPROACHES CLOSE
Universal Music is close to sealing a $1.5 bn-plus deal to buy EMI Music, home to acts including the Beatles and Coldplay, with owner Citigrouppushing for negotiations to be concluded by the weekend.
The company is the only bidder still in the running to buy EMI's recorded music division after Warner Music, widely considered the favourite, took its $1.5bn (£944m) offer off the table after talks broke down with Citigroup.
Meanwhile, there are believed to be two potential buyers for EMI's music publishing division, with reports that Sony/ATV has emerged as a rival bidder to BMG Rights Management, long seen as the frontrunner to pick up the $2bn business... ... (more)
Related articlesUniversal Music Group Purchases EMI Music (rollingstone.com)EMI sale edges closer after Universal closes in (guardian.co.uk)Universal buys EMI for £1.2bn (telegraph.co.uk)EMI music is sold to Universal. We're down to three major labels. (bbc.co.uk)Universal, Sony win dual bids to buy EMI Group (latimesblogs.latimes.com)Universal 'closing in' on £1.2bn EMI deal (telegraph.co.uk)
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