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Mick Jagger approves of EMI sale

Nov. 12, 2011 at 8:45 AM   |   Comments

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LONDON, Nov. 12 (UPI) -- Rolling Stones vocalist Mick Jagger said the integrity of British music company EMI was in safe hands with its sale to Vivendi Universal Music Group.

"For me, as an Englishman, EMI was the pre-eminent music company that I grew up with. Universal is committed to both preserving EMI's cultural heritage and artistic diversity and also investing in its artists and people to grow the company's assets for the future," Jagger said

The Rolling Stones broke ranks with EMI in 2008 and signed with Vivendi Universal. Vivendi Universal said it would purchase EMI's music division for $1.6 billion, The Daily Telegraph reported Saturday.

"The Vivendi family," said Vivendi Chief Executive Officer Jean-Bernard Levy, would be a "safe, long-term home, headquartered in Europe," for EMI's music.

EMI controls music by The Beatles, as well as Coldplay and others.

Sony/ATV Music Publishing has reached an agreement to buy EMI's publishing business for $2.2 billion, which means U.S. bank Citigroup will realize $4.1 billion from the sale of EMI, which it purchased in February.

Topics: Mick Jagger
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