Univision Communication Inc.'s music unit might be hitting a new key with a different parent as bidders have reportedly expressed heavy interest in the division. Reuters reported July 30 that strategic bidders include New York-based Universal Music Group, the world's largest music company, and Sony/ATV Music Publishing, a Santa Monica, Calif.-based joint venture between Sony Corp. and pop star Michael Jackson. New York-based Warner Music Group Corp. and Britain's EMI Group have also shown interest, according to a Reuters source. The unit has been on the auction block since February and, according to the Financial Times, could garner around $400 million. The Los Angeles-based Spanish-entertainment media conglomerate is reportedly willing to part with its music division because it may want to trim debt from its $13.7 billion buyout. The music division includes: Univision Records, Fonovisa Records, La Calle Records and Univision Music Group-Mexico as well as Univision Music Publishing and Disa, a Mexico-based record label and music publishing firm. — Gerald Magpily
See Reuters article via Los Angeles Times
See Business Week article
See Financial Times article July 27
See TheDeal.com: Univision's $13.7B buyout gets OK
See TheDeal's Auction Block profile
Tags: Univision, latin music, auction block & m&a
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