Universal set to become first bidders for EMI

The British label is being sold off by Citigroup

Photo: Next Previous

Photo Gallery: Katy Perry

Universal Music Group is expected to be an early bidder for the EMI group, according to sources.

Yesterday it was announced that US bank Citigroup, who took control of the label in March this year are set to put the label up for sale, opening up a bidding process likely to take months.

Now Universal, the largest of the four major record companies, will be the first to throw its hat into the ring, according to the Los Angeles Times.


Universal decided not to chase the acquisition of Warner Music Group when it was put up for auction earlier this year, primarily because a merger of the two companies would have struggled to meet monopoly legislation, since both companies have double digit market share in both Europe and the US.

But it is believed that a mash up of Universal and EMI would be an easier sell to regulators, since according to the most recent figures, EMI's market share was just under 9%.

For Warners' part, they are expected to launch a bid once their own sale has gone through. They were bought earlier this year by oligarch Len Blavatnik for $3.3 billion.

Read More On This Artist

More News
Drenge on new album 'Undertow': 'One song just screams 'Fleewood Mac'
Liam Howlett confident ahead of new Prodigy album: 'I've been feeling these new...
Taylor Swift tells hackers who claim to have nude pictures of her: 'you got nothing'
Noel Gallagher: 'new album is is full of songs that make you punch the air while crying'
Carl Barât says he 'needs therapy' now that his Libertines bandmate Pete Doherty is clean
The Cribs say new album is 'their poppiest record since 'Men's Needs, Women's...
Sam Smith responds after US DJ Howard Stern calls him a 'fat ugly motherfucker'
Tom DeLonge says Blink-182 'haven't talked in months'
Carl Barât & The Jackals announce one-off UK show
Blink-182's Mark Hoppus confirms conversations about replacing drummer Travis Barker did...
Faith No More announce release of new single 'Superhero'
L7 announce reunion and European gigs
Drenge announce new album 'Undertow'
The Charlatans to play Brits Week gig at London's Brooklyn Bowl
East India Youth announces new album 'Culture of Volume'
BBC dismisses Brian Harvey 'paedo protecting' comments as 'absurd and offensive'
Disclosure and Rudimental to stage their own festival in Brighton
'Avi Buffalo is over', frontman confirms
Taylor Swift disqualified from Triple J's Hottest 100 list after online campaign
David Bowie to release French-language version of 'Heroes' on red and blue vinyl
Alan McGee lends support to 12 Bar Club occupation
Bill Clinton turns down offer to play saxophone on US band Firework's album

More News

Comments

Please login to add your comment.

Latest Tickets - Booking Now
 
Know Your NME
 

 
NME Store & Framed Prints
Inside NME.COM