Executives from BMG Rights Management, the pubbery backed by private equity firm KKR, gathered in
BMG would like to bulk up its holdings or sell them, while UMG and Sony/ATV would presumably also be interested bidders if Warner/Chappell should come on the market.
The commonly accepted scenario is that Blavatnik would like to make a play for EMI, which Citigroup is expected to soon put on the market with a price tag near or even more than the $3.3 billion the Russian entrepreneur paid for WMG, with a clear cost savings from combining the #3 and #4 music groups in the world. To make that happen at regulatory, Blavatnik will have to divest some assets after winning approval in the
According to a source, Citigroup could fetch between $3.3 billion and $4 billion for EMI because of its size globally. Guy Hands' private-equity firm Terra Firma paid $4.7 billion for EMI back in 2007.
Citi is expected to start shopping EMI once it goes through the music group's books, although some indicate it might also be waiting for Warner to complete its sale process.
While Blavatnik is assumed to be the highest bidder for EMI, the regulatory issues associated with a Warner combination could deter Citigroup, which will want to execute a quick deal.
LIVE NATION POSTS (ANOTHER) RECORD QUARTER
More butts in seats than ever before. (5/3a)
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THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
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