EMI Group PLC is likely to be sold off as two separate
businesses--recorded music and song publishing--after reviewing
final bids, Reuters news agency reported Wednesday on its website,
citing unnamed sources.
The highest offers for EMI's publishing business have been
submitted by Sony/ATV Music Publishing and BMG Music, with bids of
roughly $2 billion, according to the report.
Warner Music Group and Universal Music Group are competing to
buy the recorded music division, with Universal in the lead, the
report quoted a source as saying.
Citigroup Inc. (C), which controls EMI, is likely to pick the
winning bidders by the end of next week, the report said.
A Citigroup spokeswoman declined to comment, while EMI wasn't
available for comment, and all bidders have declined comment, the
report said.
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http://www.reuters.com/article/2011/10/12/us-emi-sale-idUSTRE79B7XI20111012