Home

Music Label

Vivendi Universal to Acquire DreamWorks' Music Label

Authored by Mark Hefflinger on November 12, 2003 - 7:50am.
Paris -- French media conglomerate Vivendi Universal, which owns Universal Music Group -- currently the No. 1 record company in the world -- has agreed to buy music the record label division of DreamWorks SKG, the company owned by Steven Spielberg, Jeffrey Katzenberg and David Geffen. Although financial terms for the deal have not been disclosed, the transaction is rumored to be valued at about $100 million. The news reflects a growing trend within the global music industry: Only last week, Sony Corp. and Bertelsmann announced plans to merge their record units, while EMI is reportedly in discussions to buy Warner Music Group for more than $1 billion.
tags: Vivendi Universal | DreamWorks | Music Label |