Four parties are still in the running to buy the EMI publishing catalogues being sold by Sony/ATV as a condition of their acquisition of the EMI publishing business. As much previously reported, the Sony publishing firm led a consortium to buy the EMI songs company, and agreed to sell off a small number of European catalogues belonging to its new acquisition – namely the Virgin and Famous UK catalogues – in order to get regulator approval for the deal.
An assortment of possible bidders came forward expressing interest in the song catalogues for sale, with nine submitting initial offers, but insiders say that only four parties are now still bidding. Bids are in from BMG, Because Music and a joint venture between Kobalt and the G2 Investment Group, while Warner Music is expected to submit an offer in the next 24 hours (even though technically the deadline for second round bids has closed).
The sale is being coordinated by lawyer John Branca, one of the executors of the Michael Jackson estate, which owns half of the Sony/ATV company.
Sections: EMI Sale Timeline - Music Business - Top Stories | Tags: Because Music, BMG Chrysalis, EMI, EMI Music Publishing, G2 Investment Group, Kobalt, Sony Music, Sony/ATV
 |
Also from CMU...
First round bids in for EMI Publishing catalogues on the block
BMG, Primary Wave and the G2 Investment Group are all first-round bidders for the EMI publishing catalogues that are on the block as part of the Sony-led acquisition of EMI...
BMG amongst bidders for Universal’s songs for sale
According to Bloomberg, BMG is leading the bidding to buy the publishing catalogues Universal Music put up for sale last month. As previously reported, Universal is selling three collections of...
Sony proposes sale of Virgin publishing catalogues to sweeten EMI takeover, says Reuters
According to Reuters, the Sony/ATV-led consortium hoping to buy EMI Music Publishing has offered to sell the various Virgin music publishing catalogues currently owned by EMI if its takeover is...
|
|
