Universal Music poised to make bid for EMI records
June 25, 2011
Universal Music is preparing a bid for UK rival EMI that will break up the £2bn label that is home to the Beatles and Coldplay. The US group only wants to buy the recorded music half of the business, valued at £940m, said a source familiar with its plans.It will not bid for the publishing rights side of the business because Universal is the world's largest music publisher and EMI is the number two player, 'and that is too much for regulators to bear,' said the source.Time Warner and US private equity house gores group are also understood to be potential suitors for the whole of the group.
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