Simon Fuller is reportedly on the verge of teaming up with investor Lord Rothschild to bid for a host of EMI record labels.
The media tycoon is apparently in talks with RIT Capital Partners, the investment trust chaired by Rothschild, and other firms to inject hundreds of millions of pounds into the takeover of the EMI labels, reports Sky.
Rumours of Fuller's interest started in early October, when The Independent positioned the XIX Entertainment founder as a potential suitor for all of EMI's UMG deal concessions including Parlophone, Chrysalis, Mute and the catalogues of Pink Floyd, Kate Bush and David Bowie.
Fuller is reported to be teaming up with Island Records founder Chris Blackwell to manage the bid.
Warner Music Group and BMG Music Publishing are also said to be interested in some of the back catalogues put up for sale.
A data room will be opened to prospective buyers next week, and more than 90 expressions of interest have been received by Universal, according to insiders.