Vivendi to keep Universal

Steve Dinneen
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UNIVERSAL expects it will have to make divestments in some markets following the acquisition of EMI’s recorded music division by its parent company Vivendi.

Sources close to the firm told City A.M. no decisions will be made until after regulatory clearance has been granted – a process expected to take between eight and 10 months.

The source said the firm has not identified which markets are most likely to be affected, nor which divisions could be at risk.

The source also said Vivendi has no plans to sell off Universal in the wake of the EMI deal.

Universal chairman and chief executive Lucian Grainge told City A.M.: “EMI should be commended for its resilience over the last few years.

“Following the regulatory process, we plan to reinvest in their artists and in new music, and preserve the historic legacy of their past.”