German multinational media giant Bertelsmann and the world’s largest music publishing business, UK-headquartered EMI, are discussing a possible merger.
EMI would confirm only that it has been approached by Bertelsmann: “No detailed discussions have yet taken place and there can be no assurance that a transaction will result," said a brief statement.
However, insiders say that any deal is unlikely to involve a bid for EMI; instead the German giant may transfer its music assets to EMI which would retain its London stock market listing.
Such a move would combine EMI’s portfolio – a musical mix ranging from the Beatles to The Spice Girls – with Bertelsmann’s star-studded roster which includes Elvis Presley, Carlos Santana and Whitney Houston.
The discussions with BMG look to spell the end of EMI's thwarted attempt to merge with Warner Music Group of the US.
News source: Financial Times