UMG Closes On BMG Publishing
June 26, 2007 at 11:42 AM (PT)
UNIVERSAL MUSIC GROUP has completed its $2.09 billion purchase of BERTELSMANN AG's BMG MUSIC PUBLISHING, making UNIVERSAL MUSIC the world's largest music publisher, as well as the largest seller of music.
UNIVERSAL now owns the BMG catalog, which includes current artists, such as COLDPLAY and JUSTIN TIMBERLAKE; classic artists like the BEACH BOYS and THE SCORPIONS; and artists such as PUCCINI and RAVEL.
What remains to be seen is what properties will be sold off by the combined company. In MARCH, UNIVERSAL offered major selloffs to gain approval by EUROPEAN regulators .