EMI ‘for sale’ rumour
p2pnet.net News:- Someone else apparently wants to buy Britain’s EMI.
The company, ranking # 3 in the Big Four Organized Music cartel, had Warner Music, another member and # 4, after it a while back. And it once seemed EMI might buy Warner. But the who’s going to cannibalize who speculation came to nothing,
Now, “Eric Nicoli, EMI’s executive chairman, was in early-stage talks with private equity bidders including Goldman Sachs and Kohlberg Kravis Roberts about a possible bid worth at least £2.5 billion,” says The Times Online.
Only $2.5 billion? So it would seem.
And France’s Vivendi, owner of Universal Music and#1 iu the Big Four heap, was a possible contender, “but remained tight-lipped about whether it was interested,” says the story, going on:
“But EMI would not say whether KKR and Goldman were behind this morning’s approach or whether news of the talks had flushed out a rival bidder.”
Also See:
cannibalize – EMI, Warner, take-over fight, June 28, 2006 – Musical copyright terms ‘to stay’, November 27, 2006
The Times Online – EMI admits takeover talks, November 28, 2006
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