Implications of Softbank bid on UMG

RAMPED-UP PROPERTY VALUES: That surprise, sky-high That $8.5 billion bid for UMG made three months ago by Japan’s Softbank and revealed yesterday by The Financial Times (see item blow) has boosted valuations for all three major music groups, sources told the New York Post’s Claire Atkinson. Specifically, the bid could aide Third Point’s Daniel Loeb in his attempt to persuade Sony to the spin out Sony Music and Sony Pictures by making the idea of a sale look more attractive to the Japanese conglom. Loeb is expected to revive efforts to break away the division in the coming weeks, according to a financial industry source. UMG was last valued in the $6.5 billion range. (7/19a)