As it awaits approval for its proposed acquisition of EMI's recorded music business, Universal Music Group is planning to unload three of its music publishing catalogs for as much as $200 million.
Universal Music, the world’s biggest record company, said in November it would sell non-strategic assets to help finance its $1.9 billion acquisition of EMI’s recorded music business from Citigroup Inc. Universal Music also plans to sell real estate holdings in France and Germany that are leased to other companies, the person said. Representative for Universal and Vivendi couldn’t immediately be reached for comment.[BW]
