Vivendi Considering Bids On Publishing Companies
October 24, 2006 at 5:50 AM (PT)
THE FINANCIAL TIMES is reporting that VIVENDI is thinking about making bids for two music publishing companies worth a combined EUR3 billion, in an effort to build a catalogue arm for its UNIVERSAL MUSIC GROUP subsidiary.
According to three people "familiar with the matter," the FT reported, UNIVERSAL had held discussions with EMI GROUP PLC about buying WARNER MUSIC GROUP's publishing business, which EMI would have to jettison for competition reasons if its GBP2.5 billion merger with WARNER were to succeed.
UNIVERSAL is also readying an offer for BMG MUSIC PUBLISHING, the catalogue being auctioned by its parent company, BERTELSMANN. BMG could fetch EUR1.5 billion, while the WARNER publishing business could attract about GBP1 billion.