Who Is Likely To Buy EMI?
June 21, 2011 at 5:18 AM (PT)
Just YESTERDAY (NET NEWS 6/20), after an apparent futile search for an interested suitor, the Board of Directors of EMI GROUP's holding company, EMI GROUP GLOBAL LTD, initiated a process "to explore and evaluate potential strategic alternatives," including a possible sale, recapitalization or initial public offering of the Company. EMI stressed that there is "no assurance that this strategic review process will result in a transaction."
But if a sale is in EMI's future, who would be the likely bidders?
THE LOS ANGELES TIMES writes, "EMI could attract a number of unexpected bidders. The WARNER sale was triggered in DECEMBER when buyout firm KOHLBERG KRAVIS ROBERTS & CO., partnering with GERMAN music company BERTELSMANN, lobbed an unsolicited bid. A dozen bidders ended up in the fray in the ensuing four months, including SONY MUSIC ENTERTAINMENT, supermarket magnate RON BURKLE, PLATINUM EQUITY and LIVE NATION ENTERTAINMENT. Although some of WARNER's former suitors may make a run at EMI, several who were interested in WARNER for its potential to merge with EMI and create a music powerhouse may now opt out."