Universal Music Seeking To Sell To Microsoft/Apple?:
By Nolan Strong
Date: 4/14/2003 12:40 PM
Vivendi Universal's stock rose today after reports
claiming the world's second-largest media group was in talks to sell its music
division.
Vivendi Universal, which includes such labels
as Def Jam, MCA, Motown, Universal Records and Interscope and is also home to
such acts as Ashanti, Ja-Rule, Eminem, Nelly, 50 Cent, Limp Bizkit, Elton John,
U2, Shania Twain and countless others, is allegedly being offered as much as
$6 billion dollars for the music division.
Universal Chairman Doug Morris and Interscope
chief Jimmy Iovine allegedly approached Microsoft, in hopes of finding an investor
to take over the business.
Apple is reportedly making their bid for the
company to secure contnet for a new music service. Apple's CEO Steve Jobs has
had been in contact with Vivendi's chairman, Jean-Marie Messier.
Neither Microsoft or Apple representatives would
neither confirm nor deny that the company would make a run at Universal's music
division.
In addition to Vivendi Universal, AOL Time Warner,
Bertelsmann and the EMI Group are all contemplating the sales of their music
divisions.
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