Music business EMI group has been split into EMI Music and EMI Music publishing divisions, with EMI Music being sold to Vivendi's Universal Music Group for $1.9 billion, and EMI publishing division was sold to an investor consortium led by Sony Corporation for $2.2 billion, Citigroup has announced. This brings the total deal value of the label to $4.1 billion. EMI Music: EMI Music, EMI group's recorded music division has record labels such as Astralwerks, Blue Note, Capitol Records, Parlophone, and Virgin Records. Vivendi stated that it will finance this transaction from its existing credit lines and the company will concurrently sell $687.75 million worth of non-core Universal assets as part of the deal. EMI Music Publishing: While Sony is a minority partner in the consortium which bought EMI Music publishing division, the division will be managed under Sony's ATV publishing business. Other members in the consortium include estate of Michael Jackson; Mubadala…
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