EMI Sold To Universal And Sony

Written by the B&B Crew Friday, 11 November 2011 21:44

News -

Vivendi, owner of Universal Music Group is going to take over the music department of the British EMI group. The copyright part of EMI is bought by Sony/ATV. Together the take over is good for an impressive 4,1 billion dollar.

The take over of EMI doesn't come as a surprise. It's been clear for a long time Citigroup, which owned EMI since February, was going to sell the British company. Artists who are part of EMI are now added to Universal catalogue, although the deal still needs to be cleared by market authorities. According to rumours, Warner Music Group was in the bidding for EMI as well, but their offer was about 1,5 billion short.

Sony/ATV is taking over the copyright part of EMI. The company is said to be paying around 2,2 billion dollars, although this has not yet been made public. After the take over, three major record companies remain; Warner, Universal and Sony. Universal already was the biggest of the three but after this take over it's market share will drastically increase .