Warner, Universal Interested In Sanctuary?
May 21, 2007 at 5:30 AM (PT)
The U.K.'s BUSINESS GUARDIAN reports WARNER and UNIVERSAL could be preparing to battle for control of SANCTUARY, the troubled music group that manages ELTON JOHN and JAMES BLUNT. SANCTUARY shares leapt more than 40% FRIDAY as it was forced to admit to the market that it had received approaches from potrential bidders.
Industry insiders believe there are only two potential bidders: industry leaders WARNER MUSIC and VIVENDI-owned UNIVERSAL MUSIC. The logic for a much larger rival to buy SANCTUARY would be to get hold of its music merchandising arm and its attractive artist management contracts.
Read the full report here.