RUMOR MILL
Saturday, December 19, 2020
TENCENT BUYS ANOTHER 10% OF UMG
Tencent Holdings has exercised its call option to acquire an additional 10% equity stake in Universal Music Group. The sale price will again be based on UMG's valuation at €30b.
The consortium of buyers comprises the same members as that for the initial 10% investment in UMG, including Tencent Music Entertainment Group and other financial co-investors. The transaction is expected to close in the first half of 2021, subject to regulatory approvals.
Tencent’s initial deal to acquire 10% of UMG from Vivendi closed in March.
The cash generated by these transactions may be used by Vivendi to reduce its financial debt and finance share buybacks and acquisitions.
STAGECOACH: THE FINAL DESERT EXCURSION
Our weary travelers reflect on their adventure. (4/30a)
HIPGNOSIS BOARD APPROVES UPPED BLACKSTONE BID
But it ain't over till it's over. (4/29a)
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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!
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BILLIE'S BACK WITH BIG WORLD TOURrumor mail
