TOKYO Jan 7 Sony Corp is joining with
BMG to bid for Parlophone and other EMI labels on sale by
Universal Music, reuniting Sony and Bertelsmann four
years after they ended their music joint venture, the Financial
Times said on Monday.
Vivendi-owned Universal is being forced to sell
Parlophone - EMI's oldest active label with artists including
Coldplay and Pet Shop Boys - to satisfy regulators' concerns
about its $1.9 billion purchase of EMI's recorded music
Sony and BMG, a music rights management group owned by
Bertelsmann and private equity group KKR, will make a
joint bid for Parlophone and other assets, the FT said. The two
plan to split the assets and will not form another joint
venture, it said.
Sony declined to comment. BMG could not be immediately
reached for comment.
Other bidders for the EMI labels on sale include Warner
Music and Ronald Perelman's investment company MacAndrews &
Forbes, the FT has said.