Universal buys EMI Music for £1.2bn

The sale of EMI's recorded music division sale follows months of speculation about the future of the company after it was acquired by Citigroup, which took control from its previous owners, Guy Hands' Terra Firma, in February this year. It is still unknown who will buy EMI's publishing arm, although Sony/ATV has been touted as frontrunners.

Vivendi CEO Jean-Bernard Levy said the company was pround to welcome EMI into the Vivendi family and said the company respected all the labels ...

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