Universal Tune Neighborhood is in talks to advertise a ten % stake in a deal that may worth the file signal at about $40 billion.
Affirmation Friday of these talks attain 4 months after Vivendi SE, the French media conglomerate that owns Universal, stated that it might per likelihood per likelihood stroll off the signal that’s dwelling to Taylor Swift, Billie Eilish, Woman Gaga, apart from to the Beatles. The agency closing 300 and sixty 5 days received Bob Dylan’s whole catalog.
Universal, with its broad portfolio of artists, has benefited from the variation of tune streaming all the intention via a amount of platforms.
The ten % stake would lunge for spherical $4 billion and will per likelihood be funneled via a special-motive acquisition agency, Vivendi and Pershing confirmed Friday.
A SPAC is often a neighborhood of higher traders who improve cash for acquisitions after which sight out acquisition targets.
Pershing Sq.’s SPAC, referred to as Pershing Sq. Tontine, raised about $4 billion closing 300 and sixty 5 days. Pershing Sq. is lunge by billionaire William Ackman.
Vivendi has talked of distributing 60 % of Universal Tune shares to its stockholders as piece of any spinoff. Tencent owns a 20 % stake of the tune agency and Vivendi has been in talks with the Chinese language conglomerate as efficiently.
Vivendi plans to guidelines shares of Universal Tune on Euronext Amsterdam later this 300 and sixty 5 days and Pershing stated Friday that it might per likelihood per likelihood possibly per likelihood distribute the received Universal Tune shares to its stockholders at that time.