EMI Bid Deadline Set For Oct 5 By Citigroup

Citigroup has told bidders for bank owned EMI to submit their best and final offers by October 5th, according to reports.  Only a select group of bidders have been invited into this round which still includes both investors interested in breaking up the music group and those that would keep it whole. The final price for all EMI assets is expected to be in the $3 to $3.5 million range.

Universal is most interested in the recorded music division, according to the LA Times, but new WMG owners Access Industries want the whole company. Platinum Equity Sony Corp. and BMG Chrysalis are all said to still be in the running.