The New York Daily News reported yesterday the former Seagram/Universal mogul is trying to get involved in an eleventh-hour bid for AOLTW’s music assets as the record giant continues to discuss a sale to rival EMI.
Bronfman failed in an attempt to buy the Universal entertainment empire from Vivendi, but he’s hungry to get back in the game.
While many expected Bronfman to chase Vivendi's Universal Music Group—the company he used to run—it appears a smaller Warner Music is more within his grasp.
Meanwhile, talks between Time Warner and EMI are steaming ahead, with Wednesday’s reports that global music sales fell another 11%.
EMI’s advantage over Bronfman is the $300 million a year in savings that would result from a joint operation with WMG. Time Warner would retain a 25% stake in the merged company.
Bronfman refused to comment on the report, but told us Junior Miles would soon write a song about it.
NEAR TRUTHS:
CENTERS OF GRAVITY Eilish enters a powerful new creative chapter. (5/6a)
LATEST SCORES: KENDRICK VS. DRAKE
Multiple lead changes in this playoff game. (5/6a)
LIVE NATION POSTS (ANOTHER) RECORD QUARTER
More butts in seats than ever before. (5/3a)
| ||
THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
|