Report: EMI Teams With Investment Giant For BMG Publishing Bid
July 20, 2006 at 10:25 AM (PT)
The fight for BERTELSMANN's BMG MUSIC PUBLISHING (NET NEWS 5/25) continues to heat up as EMI and corporate investor giant KOHLBERG KRAVIS ROBERTS (KKR) have joined the fray and made it into the second round of the bidding process, reports THE TIMES. According to the report, KKR would provide most, if not all, of the capital for the bid, with EMI providing "management expertise."
It won't be easy for EMI, however, as THE TIMES reports further that among the heavies still invloved in the bidding process include UNIVERSAL MUSIC GROUP, WARNER MUSIC GROUP, SONY, and venture cap firm BC PARTNERS. While THE TIMES' piece does mention that VIACOM is interested (NET NEWS 7/14), it does not speculate whether or not the company has made it into the second round of the process.
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