Friday, July 22, 2011

Who will buy EMI?

Reuters suggesting no end of likely suitors for EMI, including Sony and Universal. If either of them take over the company, we'd be one step closer to the inevitable single-major world. It'd be a sad day, but at least it'd make things easier for the RIAA.

However, there are other organisations kicking the wheels:

Citigroup is keeping its options open as to EMI. The auction could include separate offers for EMI's music publishing and music recording businesses, or an offer for the entire company, three of the sources said.

The interested parties have signed confidentiality agreements to get access to EMI's financial information so that they can decide whether to put in bids for the company, which are expected in August, the sources said.

Potential buyers including Access, MacAndrews & Forbes, Sony and Platinum Equity have talked to investment banks about financing an EMI buyout, these people said.

Banks including Goldman Sachs, Credit Suisse and UBS AG have expressed willingness to finance a potential deal, two of the sources said. All the banks declined to comment for this story.
Suggestions that the winner will get to ride Damon Albarn like a pony could not be confirmed at time of publication.


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