UMG Looks To Sell Off Three Music Catalogs

Prepping For EMI Purchase

As VIVENDI continues to make moves in anticipation of acquiring EMI MUSIC, their currently owned label, UNIVERSAL MUSIC GROUP is looking to spin off three music-publishing catalogs. BLOOMBERG.COM reports UMG has "hired BANK OF AMERICA MERRILL LYNCH to sell classical, Christian and German schlager catalogs. A sale may raise as much as $200 million," a source told BLOOMBERG.

Last week (NET NEWS 3/23), ALL ACCESS reported UNIVERSAL MUSIC GROUP was preparing to sell overseas assets, including various music catalogs and real-estate holdings, to help fund its $1.9 billion planned purchase of EMI's recorded music business.

"The music catalogs have drawn 12 bidders including KKR & CO.-controlled BMG RIGHTS MANAGEMENT," notes BLOOMBERG.

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