Vivendi, which is a French media conglomerate and owner(s) of the biggest label in the world in Universal Music Group is now selling 50% of it according to digital music news .
However, this entire ordeal isn’t on hold either. This venture is currently underway and Vivendi is currently speaking to banks to assist in lining up the best partner with an aim to divest within the next 18 months according to reports. Strategic buyouts include companies like Spotify , Apple and even Amazon. The bidding war in that is gonna be crazy!
Vivendi CEO Arnaud de Puyfontaine flatly stated “Our goal is to determine a list of potential partners that would help us to obtain the best valuation for Universal while accelerating its growth.”
Universal also has under its umbrella a bunch of legendary labels such as Capitol Music group, Def Jam, Republic records, Island records, Interscope Geffen A&M, UMG Nashville among many others and are home to blog acts like Drake and Post Malone.
For more on this story:https://www.digitalmusicnews.com/2018/07/30/vivendi-50-percent-universal-music-group-sale/