Universal/EMI: Sony and BMG teaming up to bid for assets, say reports

Sony Music and BMG Rights Management are reportedly joining forces to bid for assets divested from Universal's £1.2bn acquisition of EMI Music.

According to the New York Post and Financial Times, the duo are putting together a $500m (£300m+) offer for the assets, which will include catalogue and current artists which fall under the Parlophone Label Group banner.

The Post reports that the agreement would see modern Parlophone recording artists - including Kylie Minogue and Coldplay - would then ...

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