Universal in Talks to Hive off Parlophone

Date : 07/26/2012 @ 8:40PM
Source : Dow Jones News
Stock : Brt Apartments Corp. (MD) (BRT)
Quote : 10.65  0.0 (0.00%) @ 2:05AM

Universal in Talks to Hive off Parlophone

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Universal Music Group is in talks to sell most of Parlophone as it looks to address EU concerns over its proposed acquisition of EMI Group Ltd.'s recording arm, of which Parlophone is part, the Financial Times reported Thursday on its website, citing unnamed people familiar with the situation.

BMG, a joint venture between Bertelsmann and Kohlberg Kravis Roberts & Co, has met Universal and expressed an interest in Parlophone, the FT cited the people as saying.

Universal's consideration of a sale of the bulk of Parlophone is in place of an original offer to sell several smaller labels, the FT reported. It would retaining some high-profile artists such as the Beatles, the report said.

Full story: http://www.ft.com/intl/cms/s/0/46694bc4-d767-11e1-8c7d-00144feabdc0.html?ftcamp=p blished_links%2Frss%2Fcompanies%2Ffeed%2F%2Fproduct#axzz21g4O45pO

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