Thursday 1 September 2011

CTS closes in on See, EMI up for grabs

Music Week reports that CTS Eventim is seemingly the favourite to buy the UK's See Tickets from current owners, Dutch investment firm Parcom Capital. See Tickets originally span out of Andrew Lloyd Webber's Really Useful company, and sells tickets to West End shows as well as a plethora of music and sporting events, including the Glastonbury Festival. an according to Dow Jones, the next round of bidding for EMI is expected to take place next week and owner Citigroup has invited a number of parties to submit second bids after the Labour Day Weekend in the US, initial bids having been made at the start of last month. It is thought that existing music companies Warner Music, Universal Music and BMG are all still in the running. Whilst Citigroup wanted just ‘one’ sale (as does current CEO Roger Faxon), it's thought that bids for both EMI in its entirety and the major's constituent parts are both being considered

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