Report: Charles Koppelman Is Interested In EMI
August 5, 2011 at 3:55 AM (PT)
With all the names being rumored as interested in buying EMI -- here's one you hadn't heard in awhile, THE NEW YORK POST reports, "CHARLES KOPPELMAN, who stepped down as executive chairman at MARTHA STEWART LIVING OMNIMEDIA last week, is pairing with buyout firm APOLLO MANAGEMENT to make a run at EMI, his old record label."
KOPPELMAN ran EMI RECORDS GROUP/NORTH AMERICA, between 1990 and 1997.
Earlier this week, 10 bidders were reported as having put in early bids on EMI (NET NEWS 8/1), with SONY MUSIC ENTERTAINMENT, VIVENDI SA’s UNIVERSAL MUSIC GROUP and LEN BLAVATNIK’s ACCESS INDUSTRIES HOLDINGS LLC believed to be in the running. KKR-backed music publishing venture BMG RIGHTS submitted its bid for EMI on FRIDAY, JULY 22nd.
On WEDNESDAY (NET NEWS 8/3), ALL ACCESS reported that bids for EMI suggest that the British music company could go for more than $4 billion, allowing CITIGROUP to recoup about three-quarters of the money it lent to GUY HANDS' ill-fated private equity buy-out in 2007.
KOPPELMAN, with capital from APOLLO is joined, writes THE POST, by OAKTREE CAPITAL and boutique music company PRIMARY WAVE in a bid for EMI.