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it's thought that Malone and Liberty's Greg Maffei proffered a figure well in excess of SoftBank's 2013 bid of $8.5 billion.
Monday, March 9, 2015

POST : VIVENDI REJECTS LIBERTY BID FOR UMG

Malone's Bid for Music Group Said to Have Been Considerably Bigger Than SoftBank's $8.5 Billion Bid

The New York Post is reporting that Liberty Media chief John Malone approached Vivendi with an offer to buy Universal Music Group. Vivendi's Vincent Bolloré rebuffed the offer, the story goes; it's thought that Malone and Liberty's Greg Maffei proffered a figure well in excess of SoftBank's 2013 bid of $8.5 billion; according to a source cited by the Post, their offer would have to be "astronomical" to pique the interest of Vivendi's board.

Malone, whose investments include SiriusXM and a stake in Live Nation, previously won $950m in a lawsuit against Vivendi, and the Post "They are not well liked by Vivendi," says the Post's source.

The French conglom's commitment to UMG and its other media holdings has been strongly demonstrated in the past two years, as the firm sold off assets in other sectors but consistently declared its media assets essential to its business.

 
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