Quantcast
Companies that didn't make the first cut include Viacom and financial entity Permira, while a proposed management buy-out led by BMG Music's Chief Executive Nicholas Firth also failed to progress.
VIVENDI IS TOP BIDDER FOR BMG MUSIC PUBLISHING
Warner, BC Partners, EMI Still in the Mix as Second Round of Auction Kicks In
Vivendi is in the lead to acquire BMG Music.
 
Universal Music has offered close to $2 billion in the auction of Bertelsmann's music publishing arm, the Financial Times said today, citing two people familiar with the situation.

UMG now advances to the second round along with Warner Music and private equity group BC Partners, with bids coming in between $1.5 and $2 million.

Earlier this week, Bertie said strategic and financial bidders would participate in a second round of bidding for BMG Songs that begins this week.

Fifteen prospective buyers have been sent information about BMG Music Publishing, which analysts expected to fetch at least 1.5 billion euros.

Companies that didn't make the first cut include Viacom and financial entity Permira, while a proposed management buy-out led by BMG Music's Chief Executive Nicholas Firth also failed to progress.

Universal Music is now seen as a front-runner in the bidding because of the potential cost savings from merging BMG's operations with its own. Universal is the world's largest record company but smaller than some of its rivals in publishing.

EMI Group is working with private equity group KRR on a plan to provide services to BMG Music, according to the FT.

Bertlesmann needs the cash from any sale to pay back the $6 billion it owes Groupe Bruxelles Lamberg after reacquiring the 25% of the company it had reluctantly ceded to the Belgian investment firm so it can remain privately owned by the Mohn family.

WMG LAUNCHES IPO
That's a nice return there, Len. (5/26a)
NEAR TRUTHS: WASS
UP WITH PARADIGM?
The next mogul. (5/26a)
DEF JAM SETS UP SHOP IN AFRICA
Is Larry Gaaga related to Lady Gaga? And other musical questions. (5/26a)
AIRHEAD: HOW TO WIN THE HOT 100
You just need these six credit cards... (5/26a)
WELCOME TO THE
WORKING WEEK
President Glauber knows it don't thrill you but she hopes it won't kill you. (5/26a)
SHORT WEEK
Enjoy being even more confused by the calendar.
BLACK MUSIC MONTH
Celebrating the music that fuels the biz.
INSTACART
Dammit, we said DILL pickles!.
TRUMP SAID WHAT, NOW?
Just wondering if you still give a fuck.
 Email

 First Name

 Last Name

 Company

 Country
CAPTCHA code
Captcha: (type the characters above)