Universal Music Group Reportedly in Talks to Buy Rondor Music
Seagram Co.’s Universal Music Group, the world’s largest record company, is in talks to buy Rondor Music for $400 million to $500 million, according to a person familiar with the discussions.
Rondor Music was started in 1962 by Herb Alpert and Jerry Moss, the founders and former co-heads of A&M; Records. The Hollywood Reporter earlier today reported that the talks were in an advanced stage.
An agreement would bolster Universal’s music publishing business by adding such titles as the Beach Boys’ “Sea of Tunes” catalog, as well as the Squeeze catalog, which includes songs such as “Cool for Cats.” Universal’s music publishing operation now ranks behind Time Warner Inc.’s Warner/Chappell Music and that of EMI Group, which is combining its music business in a joint venture with Warner Music Group.
Universal became the world’s largest recorded music company after its acquisition of Polygram, parent of A&M; Records.
A Universal Music spokesman declined to comment, and Rondor Music officials couldn’t immediately be reached to comment.
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