The auction for chunks of EMI’s publishing catalogue is now between four bidders – with one bid still outstanding.
That’s according to Billboard sources, which say those still in the running to buy ‘the Rosetta catalogue’ - including Virgin Music Publishing and Famous Music – are BMG Rights Management, France’s Because Music and a Kobalt/G2 Investment Group partnership. Warner Music Group is expecting to put in its second round bid by the end of the week.
The sources also suggest that the assets up for grabs have a net publisher’s share of $12.5 million. Names within the haul include the likes of Tears For Fears, Culture Club, Bullet For My Valentine and Gary Barlow.
The catalogue has been put up for sale by Sony/ATV as a requirement of winning regulatory approval of its acquisition of EMI Music Publishing.
Nine bidders initially took part in the auction with ole, Imagem, Bucycle Music, Saban Capital and Primary Wave eliminated after the second round, according to Billboard.