Universal: EMI divestments completed - last two assets sold
- Universal Music Group has completed the divestment of the EMI assets, after the purchase of EMI Recorded Music, in order to win regulatory approval from the EU.The two remaining items were EMI’s European rights to the "Now That’s What I Call Music!" compilation series and the Co-Op indie marketing company in Europe.
The rights to the "Now That’s What I Call Music!" have been acquired by Sony Music for just under 40 million pounds (about $60.6 million), while PIAS Recordings bought Co-Op for under half a million pounds - according to Billboard.
This final sale brings the total of the divestment package to just under 600 million pounds ($909.7 million), while it was originally estimated at around 400 million pounds ($606.4 million).