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EMI sold to Universal Music Group for $1.9 billion, source says Sony/ATV to buy publishing arm
LOS ANGELES (AP) ' EMI Group Ltd., home of The Beatles and Coldplay, has been sold in two parts for $4.1 billion.
Vivendi SA's Universal Music Group said Friday that it has agreed to buy the recording division of EMI for 1.2 billion pounds ($1.9 billion).
The second part, the publishing division in charge of songwriting copyrights, was sold to Sony/ATV, for $2.2 billion. That's according to a person familiar with the matter.
A second person says the deal leaves Citigroup, EMI's owner, with liability for a pension plan worth about $600 million.
Both people were not authorized to speak publicly and spoke on condition of anonymity.