Universal Music closes BMG deal

Universal Music Group has completed its $2.09 billion purchase of Bertelsmann AG's BMG Music Publishing, making Universal Music the world's largest music publisher, as well as the largest seller of music.

Universal now owns the BMG catalog, which includes current artists, such as Coldplay and Justin Timberlake, classic artists, like the Beach Boys and The Scorpions, and artists such as Puccini and Ravel. What remains to be seen is what properties will be sold off by the combined company. In March, Universal offered major sell-offs to gain approval by European regulators .

Universal Music Group, a unit of Paris-based Vivendi, owns record labels or licensees in 77 countries. It operates Los Angeles' Universal Music Publishing Group, a publishing house with more than 1 million copyrights, and Santa Monica-based Universal Music Enterprises, the company's catalog management division.

Source: Various