The Blackwell/Fuller partnership is joined by eight other bidders making preliminary proposals for EMI's iconic Parlophone label, while there are 12 parties interested in snapping up non-Parlophone assets.
That’s according to FT sources involved in the talks who say that Warner is another Parlophone bidder with an interest in divested labels including Mute and Sanctuary.
The FT says that Universal has so far received 12 approaches for non-Parlophone assets in total, with former EMI executives such as Jason Flom said to be among interested names.
Universal has received nine “preliminary non-bidding proposals” for Parlophone, according to sources close to the matter.
Names said to have thrown their hat into the ring along with the Fuller/Blackwell venture – backed by Lord Rothschild’s RIT Capital Partners - include Warner, Sony Music, BMG and Ronald Perelman’s MacAndrews & Forbes investment company.
The interested parties have apparently signed non-disclosure agreements but have not yet submitted non-binding proposals.