Monday, June 5, 2017

Universal Music Will Be Spun Off With An IPO "At The Right Moment," says Vivendi CEO | hypebot

Universal-Music-LogoAfter months of speculation whether Vivendi will spin off Universal Music, Chairman and CEO Vincent Bolloré shared that an IPO of the world's largest music group was all but inevitable.

Cash

“The value of [UMG] increases every day, and it’s true that an IPO would be an interesting thing,” before adding, “the key question is to know when is the best time to do it. It’s like cheese puffs — you have to take them out at the right moment,” parent Vivendi Chairman and CEO Vincent Bolloré told a shareholder, according to Reuters.

Thanks to a streaming led resurgence in music industry revenue, Universal Music has been valued at as high as $22 billion.

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