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EMI To Be Sold As 2 Separate Businesses: Sources - Reuters

DOW JONES NEWSWIRES EMI Group PLC is likely to be sold off as two separate businesses--recorded music and song publishing--after reviewing final bids, Reuters news agency reported Wednesday on its website, citing unnamed sources. The highest offers for EMI's publishing business have been submitted by Sony/ATV Music Publishing and BMG Music, with bids of roughly $2 billion, according to the report. Warner Music Group and Universal Music Group are competing to buy the recorded music division, with Universal in the lead, the report quoted a source as saying. Citigroup Inc. (C), which controls EMI, is likely to pick the winning bidders by the end of next week, the report said. A Citigroup spokeswoman declined to comment, while EMI wasn't available for comment, and all bidders have declined comment, the report said. Full Story:

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