Report: Ten Bids In On EMI

The Bidding Has Begun

Last week (NET NEWS 7/26), ALL ACCESS reported on the first bid received by CITIGROUP for EMI MUSIC, when KKR-backed music publishing venture BMG RIGHTS submitted its bid for EMI on FRIDAY (7/22).

Now, BLOOMBERG reports more than 10 bidders made offers for EMI GROUP. "SONY MUSIC ENTERTAINMENT, VIVENDI SA’s UNIVERSAL MUSIC GROUP and LEN BLAVATNIK’s ACCESS INDUSTRIES HOLDINGS LLC are believed to be in the running."

Investors RONALD PERELMAN and TOM GORES are also reported to have made bids prior to the deadline.

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