Quantcast

UMG-TENCENT DEAL CLOSES; MORE SALES AHEAD?

Tencent Holdings' acquisition of 10% of Universal Music Group for about €3b ($3.3b) has formally closed. Parent company Vivendi is now looking for more buyers.

“Now that this very significant strategic operation has been completed, Vivendi will pursue the possible sale of additional minority interests in UMG, assisted by several banks which it has mandated,” the French company announced Tuesday morning.

Vivendi will use the proceeds “for substantial share buyback operations and acquisitions.”

Despite the shake-up of the world’s financial markets due to the Coronavirus, the company is still looking at an IPO of UMG by early 2023.

NEAR TRUTHS: SPRING BLOOMS
Here come the big guns. (3/28a)
THE COUNT: COLDPLAY IS HOT, COUNTRY'S COOKIN' IN THE U.K.
The latest tidbits from the bustling live sector (3/28a)
CITY OF HOPE TAPS MARCIANO FOR TOP HONOR
This year's philanthropic model (3/28a)
TRUST IN THE TOP 20
Hip-hop is no longer hibernating. (3/28a)
UMG BROADENS SPOTIFY OFFERINGS
Sir Lucian and Daniel are in harmony. (3/28a)
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!
 Email

 First Name

 Last Name

 Company

 Country
CAPTCHA code
Captcha: (type the characters above)