EMI are expected to be sold to Universal Music within the next few days, according to a report in today’s Guardian newspaper.
The paper suggests Universal have moved closer to securing a $1.5 billion deal with owner’s Citigroup, and is thought to be the sole remaining bidder for the troubled label, although other sources are suggesting Sony/ATV could still rival BMG Rights for EMI’s music publishing division.
Last month, Warner Music came close to agreeing a deal with EMI, but saw the offer fall through apparently due to efforts to drive up the price and, despite some expecting a new late offer from the company, a source has today downplayed those suggestions.
Despite the recent high profile departure of Robbie Williams, who is rumoured to be being followed out of the door by David Bowie, EMI still owns the lucrative rights to The Beatles‘ back catalogue, while its recorded music division is the home of big-selling acts Katy Perry and Coldplay amongst others.