Vivendi finalizes EMI acquisition by UMG with sale of Parlophone
PARIS -- February 7, 2013
Vivendi (Paris:VIV) and its subsidiary Universal Music Group (UMG) today
announced a definitive agreement to sell Parlophone Label Group, a unit of EMI
Recorded Music, to Warner Music Group for £487 million (around €570 million)
in cash. The sale represents the main part of the application of the
regulatory undertakings to the European Commission agreed on September 21,
2012, within the conditions it set forth.
The acquisition of EMI Recorded Music reinforces UMG’s position as the world’s
largest major with a market share of some 30 per cent today. As a result, UMG
enlarges its presence in some sixty countries, particularly in the three main
international music markets: United States, Japan and Germany. It also
strengthens its availability on all digital platforms.
More than ever, UMG remains true to its vision to invest in talent, with a
number of artists including Lady Gaga, Justin Bieber, The Beatles, Katy Perry,
Lady Antebellum, The Beach Boys, Cecilia Bartoli or Maria Joao Pires. It
covers a wide range of genres all over the world, offering consumers more
music and choice.
Commenting on the agreement, Jean-François Dubos, Chairman of the Management
Board of Vivendi, said: “The acquisition of EMI Recorded Music is a major
milestone for Vivendi. It significantly strengthens its ownership of exclusive
music content and fosters the development of talent, while continuing to
promote cultural diversity.”
Vivendi is at the hearts of the worlds of content, platforms and interactive
Vivendi combines the world leader in video games (Activision Blizzard), the
world leader in music (Universal Music Group),
the French leader in alternative telecoms (SFR), the Moroccan leader in
telecoms (Maroc Telecom Group), the leading alternative broadband operator in
Brazil (GVT) and the French leader in pay-TV (Canal+ Group).
In 2011, Vivendi achieved revenues of €28.8 billion and adjusted net income of
€2.95 billion. The Group has over 58,300 employees. www.vivendi.com
Disclaimer Forward Looking Statements. This press release contains
forward-looking statements with respect to Vivendi`s financial condition,
results of operations, business, strategy and plans. Although Vivendi believes
that such forward-looking statements are based on reasonable assumptions, such
statements are not guarantees of future performance. Actual results may differ
materially from the forward-looking statements as a result of a number of
risks and uncertainties, many of which are outside our control, including but
not limited to the risks regarding antitrust and regulatory approvals in
connection with the transaction described in this press release as well as the
risks described in the documents Vivendi has filed with the Autorité des
Marchés Financiers (French securities regulator) and which are also available
in English on our web site (www.vivendi.com).
Investors and security holders may obtain a free copy of documents filed by
Vivendi with the Autorité des Marchés Financiers at www.amf-france.org, or
directly from Vivendi. The present forward-looking statements are made as of
the date of this press release and Vivendi disclaims any intention or
obligation to provide, update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
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