Vivendi Wins BMG In €1.63B Buyout

Law360, New York (September 6, 2006, 12:00 AM EDT) -- In a move that already has some independent record companies raising antitrust concerns, Vivendi's Universal Music—the world's largest seller of recorded music—said on Wednesday it has agreed to purchase BMG Music Publishing in a €1.63 billion deal.

The agreement, which is being eyed closely by industry members, came hand-in-hand with an announcement from BMG’s parent company that it will shell out $60 million to Vivendi to end long-running legal wrangling tied to the Napster case.

The deal comes only months after a European court rejected a...
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