Price For Univision Music: $153 Million
March 5, 2008 at 5:05 AM (PT)
The price UNIVERSAL MUSIC GROUP paid for UNIVISION MUSIC GROUP (NET NEWS 2/28) is now public. In a regulatory filing, UNIVISION disclosed it sold its music recording and publishing business to UMG for $153 million. $113 million from the sale of UNIVISION MUSIC will be due at closing. UNIVISION will use the $113 million to pay down debt.
UNIVISION MUSIC includes UNIVISION RECORDS, FONOVISA RECORDS and DISA RECORDS, UNIVISION MUSIC MEXICO and UNIVISION MUSIC PUBLISHING. As part of the deal, UMG will promote its Latin artists on UNIVISION's TV network.