It appears that Citigroup have decided to sell individual portions of EMI Music Group according to two press releases issued yesterday.
The labels within the group will be sold to Vivendi and Universal Music Group for £1.2 Billion whilst the publishing assets of the group will be sold to an investor group that includes Sony Corporation of America, David Geffen and the estate of Micheal Jackson for $2.2 Billion (source : Citigroup press releases 111111a / 111111b).
These sales are of course subject to regulation and independent label association IMPALA expects that the sale of EMI Recordings to Universal Music Group will be “blocked outright” according to their latest press release.