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Home > Recent Industry News > Reuters: Universal Music considers bulk sale of EMI asset-FT
Recent Industry News

Date: 2012-07-26
Reuters: Universal Music considers bulk sale of EMI asset-FT

July 26 2012                                
(Taken from Reuters, www.reuters.com)
http://www.reuters.com/article/2012/07/26/emi-universal-eu-idUSL6E8IQRF120120726
 
July 27 (Reuters) - Universal Music is considering selling the bulk of EMI's most valuable subsidiary record label, as it attempts to ease concerns raised by EU regulators about a planned buyout deal, the Financial Times reported on Friday.
Universal, owned by Vivendi, is considering selling the bulk of Parlophone, home to some of EMI's most high-profile musicians, but retaining its most prized assets, including Coldplay and the Beatles.
BMG, the music publishing joint venture between Bertelsmann and the private equity group KKR, has met Universal and expressed its interest in Parlophone, people familiar with the situation are cited as saying.
Universal had planned to sell three music labels belonging to takeover target EMI, and is now offering Parlophone, in part, to address EU reservations about the group's clout in the CD and digital music markets.
 
FOR COMPLETE ARTICLE:
http://www.reuters.com/article/2012/07/26/emi-universal-eu-idUSL6E8IQRF120120726

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